National Security (NSEC) 10-Q 13 Nov 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Nov. 13, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	0-18649
Entity Registrant Name	National Security Group, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	63-1020300
Entity Address, Address Line One	661 East Davis Street
Entity Address, City or Town	Elba,
Entity Address, State or Province	AL
Entity Address, Postal Zip Code	36323
City Area Code	334
Local Phone Number	897-2273
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	NSEC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,530,370
Entity Central Index Key	0000865058
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Investments
Fixed maturities held-to-maturity, at amortized cost (estimated fair value: 2020 - $1,107; 2019 - $1,345)	$ 1,019	$ 1,290
Fixed maturities available-for-sale, at estimated fair value (cost: 2020 - $82,532; 2019 - $97,102)	86,967	100,260
Equity securities, at estimated fair value (cost: 2020 - $2,127; 2019 - $2,127)	5,030	5,303
Trading securities	151	149
Receivable for securities sold	3	56
Mortgage loans on real estate, at cost	145	147
Investment real estate, at book value	2,934	2,934
Policy loans	1,857	1,895
Company owned life insurance	4,820	4,655
Other invested assets	2,053	2,280
Total Investments	104,979	118,969
Cash and cash equivalents	15,057	11,809
Accrued investment income	701	706
Policy receivables and agents' balances, net	13,605	12,028
Reinsurance recoverable	9,363	276
Deferred policy acquisition costs	7,711	7,666
Property and equipment, net	1,577	1,630
Income tax recoverable	1,317	0
Deferred income tax asset, net	214	0
Other assets	1,032	850
Total Assets	155,556	153,934
LIABILITIES AND SHAREHOLDERS' EQUITY
Property and casualty benefit and loss reserves	10,823	7,199
Accident and health benefit and loss reserves	4,075	4,046
Life and annuity benefit and loss reserves	34,667	34,269
Unearned premiums	33,765	30,555
Policy and contract claims	1,135	1,053
Other policyholder funds	1,341	1,350
Short-term notes payable and current portion of long-term debt	500	500
Long-term debt	13,674	13,664
Accrued income taxes	0	226
Deferred income tax liability	0	96
Other liabilities	8,514	7,515
Total Liabilities	108,494	100,473
Contingencies
Shareholders' equity
Common stock	2,533	2,532
Additional paid-in capital	5,626	5,602
Accumulated other comprehensive income	2,872	2,443
Retained earnings	36,072	42,891
Treasury stock, at cost	(41)	(7)
Total Shareholders' Equity	47,062	53,461
Total Liabilities and Shareholders' Equity	$ 155,556	$ 153,934

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Investments
Fixed maturities held-to-maturity, at estimated fair value	$ 1,107	$ 1,345
Fixed maturities available-for-sale, at cost	82,532	97,102
Equity securities, at cost	$ 2,127	$ 2,127

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
REVENUES
Net premiums earned	$ 15,289	$ 15,209	$ 45,416	$ 44,917
Net investment income	884	989	2,809	2,908
Investment gains (losses)	1,430	(117)	988	2,120
Other income	162	148	450	440
Total Revenues	17,765	16,229	49,663	50,385
BENEFITS, LOSSES AND EXPENSES
Policyholder benefits and settlement expenses	13,303	9,750	40,622	29,673
Amortization of deferred policy acquisition costs	836	805	2,749	2,624
Commissions	1,493	2,006	5,615	6,017
General and administrative expenses	2,312	2,226	6,199	6,974
Taxes, licenses and fees	604	604	1,919	1,890
Interest expense	200	293	660	879
Total Benefits, Losses and Expenses	18,748	15,684	57,764	48,057
Income (Loss) Before Income Taxes	(983)	545	(8,101)	2,328
INCOME TAX EXPENSE (BENEFIT)
Current	21	190	(1,312)	287
Deferred	(226)	(75)	(425)	(245)
Total income tax expense	(205)	115	(1,737)	42
Net Income (Loss)	$ (778)	$ 430	$ (6,364)	$ 2,286
INCOME (LOSS) PER COMMON SHARE BASIC AND DILUTED (in dollars per share)	$ (0.30)	$ 0.17	$ (2.51)	$ 0.90
DIVIDENDS DECLARED PER SHARE (in dollars per share)	$ 0.06	$ 0.05	$ 0.18	$ 0.15

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (778)	$ 430	$ (6,364)	$ 2,286
Other comprehensive income (loss), net of tax
Unrealized gains (losses) on securities, net of reclassification adjustment of $1,063 and $(7) for 2020 and 2019, respectively	(486)	735	1,009	4,221
Unrealized gain (loss) on interest rate swap	39	47	(580)	92
Other comprehensive income (loss), net of tax	(447)	782	429	4,313
Comprehensive income (loss)	$ (1,225)	$ 1,212	$ (5,935)	$ 6,599

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Reclassification adjustment	$ 1,063	$ (7)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Common Stock	Additional Paid-in Capital	Treasury Stock
Balance at Dec. 31, 2018	$ 45,866	$ 39,355	$ (1,570)	$ 2,527	$ 5,554	$ 0
Comprehensive income (loss):
Net income (loss)	2,286	2,286
Other comprehensive income (loss) (net of tax)	4,313		4,313
Common stock issued	53			5	48
Cash dividends	(379)	(379)
Balance at Sep. 30, 2019	52,139	41,262	2,743	2,532	5,602	0
Balance at Dec. 31, 2018	45,866	39,355	(1,570)	2,527	5,554	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock reacquired	(7)
Comprehensive income (loss):
Net income (loss)	4,067
Other comprehensive income (loss) (net of tax)	4,013
Common stock issued	53
Cash dividends	(531)
Balance at Dec. 31, 2019	53,461	42,891	2,443	2,532	5,602	(7)
Balance at Jun. 30, 2019	51,053	40,958	1,961	2,532	5,602	0
Comprehensive income (loss):
Net income (loss)	430	430
Other comprehensive income (loss) (net of tax)	782		782
Cash dividends	(126)	(126)
Balance at Sep. 30, 2019	52,139	41,262	2,743	2,532	5,602	0
Balance at Dec. 31, 2019	53,461	42,891	2,443	2,532	5,602	(7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock reacquired	(34)					(34)
Comprehensive income (loss):
Net income (loss)	(6,364)	(6,364)
Other comprehensive income (loss) (net of tax)	429		429
Common stock issued	25			1	24
Cash dividends	(455)	(455)
Balance at Sep. 30, 2020	47,062	36,072	2,872	2,533	5,626	(41)
Balance at Jun. 30, 2020	48,451	37,001	3,319	2,533	5,626	(28)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock reacquired	(13)					(13)
Comprehensive income (loss):
Net income (loss)	(778)	(778)
Other comprehensive income (loss) (net of tax)	(447)		(447)
Cash dividends	(151)	(151)
Balance at Sep. 30, 2020	$ 47,062	$ 36,072	$ 2,872	$ 2,533	$ 5,626	$ (41)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Cash Flows from Operating Activities
Net income (loss)	$ (778)	$ 430	$ (6,364)	$ 2,286	$ 4,067
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation expense and amortization/accretion, net			221	201
Net gains on investments	(1,430)	117	(988)	(2,120)
Deferred income taxes			(425)	(245)
Amortization of deferred policy acquisition costs	836	805	2,749	2,624
Changes in assets and liabilities:
Change in receivable for securities sold			53	(41)
Change in accrued investment income			5	(2)
Change in reinsurance recoverable			(9,087)	1,456
Policy acquisition costs deferred			(2,794)	(2,705)
Change in accrued income taxes			(1,543)	661
Change in net policy liabilities and claims			5,762	442
Change in other assets/liabilities, net			220	859
Other, net			(29)	9
Net cash provided by (used in) operating activities			(12,220)	3,425
Cash Flows from Investing Activities
Available-for-sale securities			(16,068)	(12,198)
Trading securities and short-term investments			(2)	(26)
Property and equipment			(32)	(56)
Held-to-maturity securities			295	105
Available-for-sale securities			31,697	10,510
Real estate held for investment			3	11
Other invested assets, net			39	2,039
Net cash provided by investing activities			15,932	385
Cash Flows from Financing Activities
Change in other policyholder funds			(9)	(22)
Dividends paid			(455)	(379)
Net cash used in financing activities			(464)	(401)
Net change in cash and cash equivalents			3,248	3,409
Cash and cash equivalents, beginning of year			11,809	5,676	5,676
Cash and cash equivalents, end of period	$ 15,057	$ 9,085	$ 15,057	$ 9,085	$ 11,809

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES Principles of Consolidation and Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of The National Security Group, Inc. (the Company) and its wholly-owned subsidiaries: National Security Insurance Company (NSIC), National Security Fire and Casualty Company (NSFC) and NATSCO, Inc. (NATSCO). NSFC includes a wholly-owned subsidiary, Omega One Insurance Company (Omega). The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP). In the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair presentation of the condensed consolidated financial statements have been included. All significant intercompany transactions and accounts have been eliminated in the condensed consolidated financial statements. The financial information presented herein should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, which includes information and disclosures not presented herein. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Among the more significant estimates included in these condensed consolidated financial statements are reserves for future life insurance policy benefits, liabilities for losses and loss adjustment expenses, reinsurance recoverable associated with loss and loss adjustment expense liabilities, deferred policy acquisition costs, deferred income tax assets and liabilities, assessments of other-than-temporary impairments on investments and accruals for contingencies. Actual results could differ from the estimates used in preparing these condensed consolidated financial statements. Earnings Per Share Earnings per share of common stock is based on the weighted average number of shares outstanding during each year. The adjusted weighted average shares outstanding were 2,530,736 at September 30, 2020 and 2,529,352 at September 30, 2019. The Company did not have any dilutive securities as of September 30, 2020 and 2019. Reclassifications Certain 2019 amounts have been reclassified from the prior year condensed consolidated financial statements to conform to the 2020 presentation. Concentration of Credit Risk The Company maintains cash balances which are generally held in non-interest bearing demand deposit accounts subject to FDIC insured limits of $250,000 per entity. At September 30, 2020, the net amount exceeding FDIC insured limits was $6,775,000 at three financial institutions. The Company has not experienced any losses in such accounts. Management of the Company reviews financial information of financial institutions on a quarterly basis and believes the Company is not exposed to any significant credit risk on cash and cash equivalents. Policy receivables are reported at unpaid balances. Policy receivables are generally offset by associated unearned premium liabilities and are not subject to significant credit risk. Receivables from agents, less provision for credit losses, are composed of balances due from independent agents. At September 30, 2020, the single largest balance due from one agent totaled $561,000. Reinsurance contracts do not relieve the Company of its obligations to policyholders. A failure of a reinsurer to meet its obligation could result in losses to the insurance subsidiaries. Allowances for losses on reinsurance recoverables are established if amounts are believed to be uncollectible. At September 30, 2020 and December 31, 2019, no amounts were deemed uncollectible. The Company, at least annually, evaluates the financial condition of all reinsurers and evaluates any potential concentrations of credit risk. At September 30, 2020, management does not believe the Company is exposed to any significant credit risk related to its reinsurance program. Accounting Changes Not Yet Adopted Reference Rate Reform In March 2020, the Financial Accounting Standards Board (FASB) issued guidance that provides temporary optional expedients and exceptions to the current guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. The Company has exposure to LIBOR based financial instruments through its subordinated debentures. The contracts with respect to these borrowings contain alternative reference rates that would automatically take effect upon the phasing out of LIBOR and would not materially change the liability exposure. The guidance was effective upon issuance and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Company is evaluating the optional expedients and exceptions in the guidance but does not expect the adoption of this guidance to have a material impact on its financial position or results of operations. Simplifying the Accounting for Income Taxes In December 2019, the FASB issued guidance to simplify the accounting for income taxes. The guidance removes certain exceptions to general principles in the income tax guidance and amends existing guidance to improve consistent application. The guidance is effective for fiscal years beginning after December 15, 2020. The Company is currently evaluating the impact of this new guidance. The Company does not expect the adoption to have a material impact on its financial position or results of operations. Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued guidance to improve the existing recognition, measurement, presentation and disclosure requirements for long-duration contracts issued by an insurance entity. The guidance improves timeliness of recognizing changes in the liability for future policy benefits and modifies the rate used to discount future cash flows. The guidance will simplify and improve accounting for certain market-based options or guarantees associated with deposit type contracts and simplify the amortization of deferred policy acquisition costs. The guidance also introduces certain financial statement presentation requirements, as well as significant additional quantitative and qualitative disclosures. The guidance is effective for fiscal years beginning after December 15, 2024 and interim periods within those fiscal years beginning after December 15, 2025. Early adoption is permitted. The Company is currently evaluating the impact of this new guidance. Due to the nature and extent of the changes required to the Company’s life insurance operations, the adoption of this standard is expected to have a material impact on the consolidated financial statements. Financial Instruments - Credit Losses In June 2016, the FASB issued guidance that replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The FASB released additional guidance in November 2018 that provides scope clarification. This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those years. The Company does not expect the adoption to have a material impact on its financial position or results of operations. Recently Adopted Accounting Standards Changes to the Disclosure Requirements for Fair Value Measurement In August 2018, the FASB issued guidance that removes, modifies and adds to the disclosure requirements related to fair value measurements. The guidance removes the requirements to disclose the amount and reasons for transfers between Level 1 and Level 2 assets, the policy for timing and transfers between levels and the valuation process for Level 3 fair value measurements. The guidance modifies disclosure requirements for investments in certain entities that calculate net asset value and clarifies the purpose of the measurement uncertainty disclosure. The guidance adds requirements to disclose changes in unrealized gains or losses included in other comprehensive income for recurring Level 3 fair value measurements and to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. The guidance is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. The Company adopted this guidance on January 1, 2020. The adoption of this guidance did not have a material impact on its financial position or results of operations. Contingent Put and Call Options in Debt Instruments In March 2016, the FASB issued guidance that clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. This guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those years. The Company adopted this guidance on January 1, 2020. The adoption of this guidance did not have a material impact on its financial position or results of operations.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2020
Variable Interest Entities [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES The Company holds passive interests in limited partnerships that are considered to be Variable Interest Entities (VIE) under the provisions of ASC 810 Consolidation . The Company is not the primary beneficiary of the entities and is not required to consolidate under ASC 810. The entities are private placement investment funds formed for the purpose of investing in private equity investments. The Company owns less than 1% of the limited partnerships. The carrying value of the investments totals $387,000 and is included as a component of Other Invested Assets in the accompanying condensed consolidated balance sheets. In December 2005, the Company formed National Security Capital Trust I, a statutory trust created under the Delaware Statutory Trust Act, for the sole purpose of issuing, in private placement transactions, $9,000,000 of trust preferred securities (TPS) and using the proceeds thereof, together with the equity proceeds received from the Company in the initial formation of the Trust, to purchase $9,279,000 of variable rate subordinated debentures issued by the Company. The Company owns all voting securities of the Trust and the subordinated debentures are the sole assets of the Trust. The Trust will meet the obligations of the TPS with the interest and principal paid on the subordinated debentures. The Company received net proceeds from the TPS transactions, after commissions and other costs of issuance, of $9,005,000. The Company also holds all the voting securities issued by the Trust and such trusts are considered to be VIE's. The Trust is not consolidated because the Company is not the primary beneficiary of the trust. The Subordinated Debentures, disclosed in Note 7, are reported in the accompanying condensed consolidated balance sheets as a component of long-term debt. The Company's equity investments in the Trust total $279,000 and are included in Other Assets in the accompanying condensed consolidated balance sheets. In June 2007, the Company formed National Security Capital Trust II for the sole purpose of issuing, in private placement transactions, $3,000,000 of trust preferred securities and using the proceeds thereof, together with the equity proceeds received from the Company in the initial formation of the Trust, to purchase $3,093,000 unsecured junior subordinated deferrable interest debentures. The Company owns all voting securities of the Trust and the subordinated debentures are the sole assets of the Trust. The Trust will meet the obligations of the TPS with the interest and principal paid on the subordinated debentures. The Company received net proceeds from the TPS transactions, after commissions and other costs of issuance, of $2,995,000. The Company also holds all the voting securities issued by the Trust and such trusts are considered to be VIE's. The Trust is not consolidated because the Company is not the primary beneficiary of the Trust. The Subordinated Debentures, disclosed in Note 7, are reported in the accompanying condensed consolidated balance sheets as a component of long-term debt. The Company's equity investments in the Trust total $93,000 and are included in Other Assets in the accompanying condensed consolidated balance sheets.

INVESTMENTS

INVESTMENTS	9 Months Ended
	Sep. 30, 2020
Investments [Abstract]
INVESTMENTS	INVESTMENTS Our investment in available-for-sale securities, which are reported at fair value, includes fixed maturity securities and equity securities. Net unrealized gains or losses on fixed maturities are reported after-tax as a component of other comprehensive income. Changes in fair value of equity securities are reported in investment gains/losses as a component of net income. The amortized cost and aggregate fair values of investments in available-for-sale securities as of September 30, 2020 are as follows: ($ in thousands) Available-for-sale securities: Amortized Gross Gross Fair U.S. Government corporations and agencies $ 4,527 $ 343 $ — $ 4,870 Agency mortgage backed securities 23,769 1,033 88 24,714 Asset backed securities 9,456 123 349 9,230 Private label mortgage backed securities 1,429 47 11 1,465 Corporate bonds 37,441 3,351 265 40,527 States, municipalities and political subdivisions 5,069 163 30 5,202 Foreign governments 841 118 — 959 Total Fixed Maturities 82,532 5,178 743 86,967 Equity securities 2,127 2,924 21 5,030 Total $ 84,659 $ 8,102 $ 764 $ 91,997 The amortized cost and aggregate fair values of investments in held-to-maturity securities as of September 30, 2020 are as follows: ($ in thousands) Held-to-maturity securities: Amortized Gross Gross Fair Agency mortgage backed securities $ 1,019 $ 88 $ — $ 1,107 Total $ 1,019 $ 88 $ — $ 1,107 The amortized cost and aggregate fair values of investments in available-for-sale securities as of December 31, 2019 are as follows: ($ in thousands) Available-for-sale securities: Amortized Gross Gross Fair U.S. Government corporations and agencies $ 4,131 $ 150 $ — $ 4,281 Agency mortgage backed securities 32,283 861 157 32,987 Asset backed securities 10,307 71 104 10,274 Private label mortgage backed securities 6,815 441 4 7,252 Corporate bonds 36,074 1,816 70 37,820 States, municipalities and political subdivisions 6,669 109 1 6,777 Foreign governments 823 46 — 869 Total Fixed Maturities 97,102 3,494 336 100,260 Equity securities 2,127 3,176 — 5,303 Total $ 99,229 $ 6,670 $ 336 $ 105,563 The amortized cost and aggregate fair values of investments in held-to-maturity securities as of December 31, 2019 are as follows: ($ in thousands) Held-to-maturity securities: Amortized Gross Gross Fair Agency mortgage backed securities $ 1,290 $ 55 $ — $ 1,345 Total $ 1,290 $ 55 $ — $ 1,345 The amortized cost and aggregate fair value of debt securities at September 30, 2020, by contractual maturity, are presented in the following table. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. ($ in thousands) Amortized Fair Available-for-sale securities: Due in one year or less $ 260 $ 261 Due after one year through five years 18,449 19,374 Due after five years through ten years 26,124 27,471 Due after ten years 37,699 39,861 Total $ 82,532 $ 86,967 Held-to-maturity securities: Due after one year through five years $ 20 $ 21 Due after five years through ten years 3 4 Due after ten years 996 1,082 Total $ 1,019 $ 1,107 A summary of securities available-for-sale with unrealized losses as of September 30, 2020, along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows: ($ in thousands) Less than 12 months 12 months or longer Total September 30, 2020 Fair Gross Fair Gross Fair Gross Total Agency mortgage backed securities $ 4,896 $ 80 $ 4 $ 8 $ 4,900 $ 88 10 Asset backed securities 3,529 143 1,770 206 5,299 349 7 Private label mortgage backed securities 924 11 — — 924 11 1 Corporate bonds 4,366 256 491 9 4,857 265 9 States, municipalities and political subdivisions 778 30 — — 778 30 1 Equity securities 137 21 — — 137 21 2 $ 14,630 $ 541 $ 2,265 $ 223 $ 16,895 $ 764 30 There were no securities held-to-maturity with unrealized losses as of September 30, 2020. A summary of securities available-for-sale with unrealized losses as of December 31, 2019, along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows: ($ in thousands) Less than 12 months 12 months or longer Total December 31, 2019 Fair Gross Fair Gross Fair Gross Total Agency mortgage backed securities $ 5,663 $ 104 $ 1,751 $ 53 $ 7,414 $ 157 18 Asset backed securities 4,241 33 1,579 71 5,820 104 9 Private label mortgage backed securities 1,060 4 — — 1,060 4 1 Corporate bonds 6,363 54 1,484 16 7,847 70 14 States, municipalities and political subdivisions 512 1 — — 512 1 1 $ 17,839 $ 196 $ 4,814 $ 140 $ 22,653 $ 336 43 There were no securities held-to-maturity with unrealized losses as of December 31, 2019. The Company conducts periodic reviews to identify and evaluate securities in an unrealized loss position in order to identify other-than-temporary impairments. For securities in an unrealized loss position, the Company assesses whether the Company has the intent to sell the security or more-likely-than-not will be required to sell the security before the anticipated recovery. If either of these conditions is met, the Company is required to recognize an other-than-temporary impairment with the entire unrealized loss reported in earnings. For securities in an unrealized loss position that do not meet these conditions, the Company assesses whether the impairment of a security is other-than-temporary. If the impairment is determined to be other-than-temporary, the Company is required to separate the other-than-temporary impairments into two components: the amount representing the credit loss and the amount related to all other factors. The credit loss is the portion of the amortized book value in excess of the net present value of the projected future cash flows discounted at the effective interest rate implicit in the debt security prior to impairment. The credit loss component of other-than-temporary impairments is reported in earnings, whereas the amount relating to factors other than credit losses are recorded in other comprehensive income, net of taxes. Management has evaluated each security in a significant unrealized loss position in the fixed maturity investment portfolio. The Company has no material exposure to sub-prime mortgage loans and approximately 6% of the fixed income investment portfolio is rated below investment grade. Based on a review of the available financial information, the prospect for future earnings of each company and consideration of the Company’s intent and ability to hold the securities until market values recovered, it was determined that the securities in an accumulated loss position in the portfolio were temporary impairments. For the nine months ended September 30, 2020, the Company realized no other-than-temporary impairments. For the year ended December 31, 2019, the Company realized no other-than-temporary impairments. At September 30, 2020, the three largest losses not realized as an impairment in the fixed maturity portfolio totaled $182,000, $126,000 and $92,000. After evaluation by management, it was determined that each of these losses were driven by changes in market interest rates and, in some cases, a lack of liquidity in some sectors driven by market dislocation. However, management currently has the intent and ability to hold these investments until recovery so no other-than-temporary impairments were recognized. At December 31, 2019, the three largest losses not realized as an impairment in the fixed maturity portfolio totaled $60,000, $23,000 and $20,000. Major categories of investment income are summarized as follows: ($ in thousands) Three months ended Nine months ended 2020 2019 2020 2019 Fixed maturities $ 824 $ 960 $ 2,696 $ 2,831 Equity securities 30 19 102 66 Mortgage loans on real estate 1 2 5 6 Investment real estate — — 1 3 Policy loans 36 37 108 106 Other 28 6 6 13 919 1,024 2,918 3,025 Less: Investment expenses 35 35 109 117 Net investment income $ 884 $ 989 $ 2,809 $ 2,908 Major categories of investment gains and losses are summarized as follows: ($ in thousands) Three months ended Nine months ended 2020 2019 2020 2019 Realized gains (losses) on fixed maturities $ 1,091 $ (24) $ 1,107 $ (9) Gains (losses) on trading securities 5 1 (1) 9 Change in fair value of equity securities 223 (80) (272) 72 Change in surrender value of company owned life insurance 125 (14) 165 256 Realized gain on company owned life insurance — — — 1,792 Other losses principally real estate (14) — (11) — Net investment gains (losses) $ 1,430 $ (117) $ 988 $ 2,120 An analysis of the net change in unrealized gains (losses) on available-for-sale securities follows: ($ in thousands) September 30, September 30, Fixed maturities $ 1,277 $ 5,343 Deferred income tax (268) (1,122) Change in net unrealized gains on available-for-sale securities $ 1,009 $ 4,221

FAIR VALUE OF FINANCIAL ASSETS

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES	FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES Our available-for-sale securities consists of fixed maturity and equity securities which are recorded at fair value in the accompanying condensed consolidated balance sheets. We are permitted to elect to measure financial instruments and certain other items at fair value, with the change in fair value recorded in earnings. We elected not to measure any eligible items using the fair value option. Accounting standards define fair value as the price that would be received to sell an asset or would be paid to transfer a liability in an orderly transaction between market participants at the measurement date, and establishes a framework to make the measurement of fair value more consistent and comparable. In determining fair value, we primarily use prices and other relevant information generated by market transactions involving identical or comparable assets. The Company categorizes assets and liabilities carried at their fair value based upon a fair value hierarchy: Level 1 - Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 1 assets and liabilities consist of money market fund deposits and certain of our marketable debt and equity instruments, including equity instruments offsetting deferred compensation, that are traded in an active market with sufficient volume and frequency of transactions. Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets include certain of our marketable debt and equity instruments with quoted market prices that are traded in less active markets or priced using a quoted market price for similar instruments. Level 2 assets also include marketable equity instruments with security-specific restrictions that would transfer to the buyer, marketable debt instruments priced using indicator prices which represent non-binding market consensus prices that can be corroborated by observable market quotes, as well as derivative contracts and debt instruments priced using inputs that are observable in the market or can be derived principally from or corroborated by observable market data. Marketable debt instruments in this category generally include commercial paper, bank time deposits, repurchase agreements for fixed-income instruments, and a majority of floating-rate notes, corporate bonds, and municipal bonds. Level 3 - Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. Level 3 assets and liabilities include marketable debt instruments, non-marketable equity investments, derivative contracts, and company issued debt with values are determined using inputs that are both unobservable and significant to the values of the instruments being measured. Level 3 assets also include marketable debt instruments that are priced using indicator prices that we were unable to corroborate with observable market quotes. Marketable debt instruments in this category generally include asset-backed securities and certain floating-rate notes, corporate bonds, and municipal bonds. Assets/Liabilities Measured at Fair Value on a Recurring Basis Financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2020 are summarized in the following table by the type of inputs applicable to the fair value measurements: ($ in thousands) Fair Value Measurements at Reporting Date Using Description Total Level 1 Level 2 Level 3 Financial Assets Fixed maturities available-for-sale U.S. Government corporations and agencies $ 4,870 $ 4,870 $ — $ — Agency mortgage backed securities 24,714 13,258 11,456 — Asset backed securities 9,230 2,440 6,790 — Corporate bonds 40,527 — 40,527 — Private label asset backed securities 1,465 923 542 — States, municipalities and political subdivisions 5,202 — 5,202 — Foreign governments 959 959 — — Trading securities 151 151 — — Equity securities 5,030 3,592 — 1,438 Total Financial Assets $ 92,148 $ 26,193 $ 64,517 $ 1,438 Financial Liabilities Interest rate swap $ (799) $ — $ — $ (799) Total Financial Liabilities $ (799) $ — $ — $ (799) The methods and assumptions the Company uses to estimate the fair value of assets and liabilities measured at fair value on a recurring basis are summarized below. Fixed maturities available-for-sale — The fair values of the Company’s public fixed maturity securities are generally based on prices obtained from independent pricing services. Consistent with the fair value hierarchy described above, securities with quoted market prices in active markets for identical assets are reflected within Level 1 while securities with validated quotes from pricing services are generally reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. Trading securities — Trading securities consist primarily of mutual funds whose fair values are determined consistent with similar instruments described above under “Fixed Maturities” and below under “Equity Securities.” Equity securities — Equity securities consist principally of investments in common and preferred stock of publicly traded companies and privately traded securities. The fair values of our publicly traded equity securities are based on quoted market prices in active markets for identical assets and are classified within Level 1 in the fair value hierarchy. Estimated fair values for our privately traded equity securities require a substantial level of judgment. Privately traded equity securities are classified within Level 3. Interest rate swaps — Interest rate swaps are recorded at fair value either as assets, within other assets or as liabilities, within other liabilities. The fair values of our interest rate swaps are provided by a third-party broker and are classified within Level 3. As of September 30, 2020, Level 3 fair value measurements of assets include $1,438,000 of equity securities in a local community bank whose value is based on an evaluation of the financial statements of the entity. The Company does not develop the unobservable inputs used in measuring fair value. As of September 30, 2020, Level 3 fair value measurements of liabilities include $799,000 net fair value of various interest rate swap agreements whose value is based on analysis provided by a third party that utilizes financial modeling tools and assumptions on interest and other factors. The Company does not develop the unobservable inputs used in measuring fair value. Additional information regarding the interest rate swap agreements is provided in Note 7. The table below presents a reconciliation for all assets and for all liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended September 30, 2020: ($ in thousands) For the nine months ended September 30, 2020 Equity Securities Interest Rate Swap Beginning balance $ 1,315 $ (65) Total gains or losses (realized and unrealized): Included in earnings 123 — Included in other comprehensive income — (734) Purchases: — — Sales: — — Issuances: — — Settlements: — — Transfers in/(out) of Level 3 — — Ending balance $ 1,438 $ (799) The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held as of September 30, 2020: $ — $ — For the nine months ended September 30, 2020, there were no assets or liabilities measured at fair values on a nonrecurring basis. Financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2019 are summarized in the following table by the type of inputs applicable to the fair value measurements: ($ in thousands) Fair Value Measurements at Reporting Date Using Description Total Level 1 Level 2 Level 3 Financial Assets Fixed maturities available-for-sale U.S. Government corporations and agencies $ 4,281 $ 4,281 $ — $ — Agency mortgage backed securities 32,987 19,330 13,657 — Asset backed securities 10,274 2,601 7,673 — Corporate bonds 37,820 — 37,820 — Private label asset backed securities 7,252 1,060 6,192 — States, municipalities and political subdivisions 6,777 — 6,777 — Foreign governments 869 869 — — Trading securities 149 149 — — Equity securities available-for-sale 5,303 3,988 — 1,315 Total Financial Assets $ 105,712 $ 32,278 $ 72,119 $ 1,315 Financial Liabilities Interest rate swap $ (65) $ — $ — $ (65) Total Financial Liabilities $ (65) $ — $ — $ (65) The table below presents a reconciliation for all assets and for all liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2019: ($ in thousands) For the year ended December 31, 2019 Equity Securities Available-for-Sale Interest Rate Swap Beginning balance $ 1,125 $ (234) Total gains or losses (realized and unrealized): Included in earnings 645 — Included in other comprehensive income — 169 Purchases: — — Sales: (455) — Issuances: — — Settlements: — — Transfers in/(out) of Level 3 — — Ending balance $ 1,315 $ (65) The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held as of December 31, 2019: $ — $ — For the year ended December 31, 2019, there were no assets or liabilities measured at fair values on a nonrecurring basis. The Company is exposed to certain risks in the normal course of its business operations. The primary risk that is managed through the use of derivatives is interest rate risk on floating rate borrowings. This risk is managed through the use of interest rate swap agreements which are designated as cash flow hedges. For cash flow hedges, the effective portion of the gain or loss on the interest rate swap is included as a component of other comprehensive income and reclassified into earnings in the same period during which the hedged transaction is recognized in earnings. The Company does not hold or issue derivatives that are not designated as hedging instruments. See Note 7 for additional information about the interest rate swap agreements. The following methods and assumptions were used to estimate fair value of each class of financial instrument for which it is practical to estimate that value: Cash and cash equivalents — the carrying amount is a reasonable estimate of fair value. Fixed maturities held-to-maturity — the carrying amount is amortized cost; the fair values of the Company’s public fixed maturity securities that are classified as held-to-maturity are generally based on prices obtained from independent pricing services. Mortgage loans — the carrying amount is a reasonable estimate of fair value due to the restrictive nature and limited marketability of the mortgage notes. Policy loans — the carrying amount is a reasonable estimate of fair value. Company owned life insurance — the carrying amount is a reasonable estimate of fair value. Other invested assets — the carrying amount is a reasonable estimate of fair value. Other policyholder funds — the carrying amount is a reasonable estimate of fair value. Debt — the carrying amount is a reasonable estimate of fair value. The carrying amount and estimated fair value of the Company’s financial instruments as of September 30, 2020 and December 31, 2019 are as follows: ($ in thousands) September 30, 2020 December 31, 2019 Assets and related instruments Carrying Estimated Carrying Estimated Held-to-maturity securities $ 1,019 $ 1,107 $ 1,290 $ 1,345 Mortgage loans 145 145 147 147 Policy loans 1,857 1,857 1,895 1,895 Company owned life insurance 4,820 4,820 4,655 4,655 Other invested assets 2,053 2,053 2,280 2,280 Liabilities and related instruments Other policyholder funds 1,341 1,341 1,350 1,350 Short-term notes payable and current portion of long-term debt 500 500 500 500 Long-term debt 13,674 13,674 13,664 13,664

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Major categories of property and equipment are summarized as follows: ($ in thousands) September 30, 2020 December 31, 2019 Building and improvements $ 3,472 $ 3,472 Electronic data processing equipment 1,501 1,470 Furniture and fixtures 483 483 5,456 5,425 Less accumulated depreciation 3,879 3,795 Property and equipment, net $ 1,577 $ 1,630 Depreciation expense for the nine months ended September 30, 2020 was $85,000 ($124,000 for the year ended December 31, 2019).

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company recognizes tax-related interest and penalties as a component of tax expense. The Company files income tax returns in the U.S. federal jurisdiction and various states. The Company is not subject to examinations by authorities related to its U.S. federal or state income tax filings for years prior to 2015. Tax returns have been filed through the year 2019. Net deferred tax liabilities are determined based on the estimated future tax effects of differences between the financial statement and tax basis of assets and liabilities given the provisions of the enacted tax laws. Management believes that, based on its historical pattern of taxable income, the Company will produce sufficient income in the future to realize its deferred tax assets. The Company recognized a net deferred tax asset position of $214,000 at September 30, 2020 and a net deferred tax liability $96,000 at December 31, 2019. The tax effect of significant differences representing deferred tax assets and liabilities are as follows: ($ in thousands) As of September 30, As of December 31, General expenses $ 1,320 $ 1,269 Unearned premiums 1,423 1,288 Claims liabilities 662 645 NOL carryforward 131 — Impairment on real estate owned 109 119 Unrealized loss on interest rate swaps 167 14 Deferred tax assets 3,812 3,335 Unrealized gains on trading securities — (1) Depreciation (91) (93) Deferred policy acquisition costs (1,619) (1,610) Pre-1984 policyholder surplus account (347) (397) Unrealized gains on securities available-for-sale (931) (663) Unrealized gains on equity securities (610) (667) Deferred tax liabilities (3,598) (3,431) Net deferred tax asset (liability) $ 214 $ (96) The appropriate income tax effects of changes in temporary differences are as follows: ($ in thousands) Nine months ended 2020 2019 Deferred policy acquisition costs $ 9 $ 17 Other-than-temporary impairments 10 — Trading securities (1) 2 Unearned premiums (135) (114) General expenses (51) (85) Depreciation (2) — Claims liabilities (17) (30) Impact of repeal of special provision on pre-1984 policyholder surplus (50) (50) NOL carryforward (131) — Unrealized gains (losses) on equity securities (57) 15 Deferred income tax benefit $ (425) $ (245) Total income tax expense (benefit) varies from amounts computed by applying current federal income tax rates to income or loss before income taxes. The reasons for these differences and the approximate tax effects are as follows: Nine months ended 2020 2019 Federal income tax rate applied to pre-tax income (loss) 21.0 % 21.0 % Dividends received deduction and tax-exempt interest 0.1 % (0.5) % Company owned life insurance 0.4 % (18.5) % Other, net (0.1) % (0.2) % Effective federal income tax rate 21.4 % 1.8 %

NOTES PAYABLE AND LONG-TERM DEB

NOTES PAYABLE AND LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
NOTES PAYABLE AND LONG-TERM DEBT	NOTES PAYABLE AND LONG-TERM DEBT Short-term debt and current portion of long-term debt consisted of the following as of September 30, 2020 and December 31, 2019: ($ in thousands) September 30, December 31, 2020 2019 Current portion of installment note payable due in November with variable interest rate equal to the WSJ prime rate plus 0.5%, with a 4.75% floor. Unsecured. $ 500 $ 500 $ 500 $ 500 Long-term debt consisted of the following as of September 30, 2020 and December 31, 2019: ($ in thousands) September 30, December 31, 2020 2019 Promissory note with variable interest rate equal to the WSJ prime rate plus 0.5%, with a 4.75% floor; maturity November 2023. Annual installment payments beginning November 2020. Unsecured. $ 1,500 $ 1,500 Subordinated debentures issued on December 15, 2005 with floating rate interest equal to 3-Month LIBOR plus 375 basis points; net of $143,000 in debt issuance cost ($150,000 in 2019); maturity December 15, 2035. Interest payable quarterly. Redeemable prior to maturity. Unsecured. 9,136 9,129 Subordinated debentures issued on June 21, 2007 with floating rate interest equal to 3-Month LIBOR plus 340 basis points; net of $55,000 in debt issuance cost ($58,000 in 2019); maturity June 15, 2037. Interest payable quarterly. Redeemable prior to maturity. Unsecured. 3,038 3,035 $ 13,674 $ 13,664 The Company has entered into various swap agreements related to the trust preferred securities. On February 26, 2020, the Company entered into a forward swap effective March 16, 2020, with a notional amount of $3,000,000 and designated the swap as a hedge against changes in cash flows attributable to changes in the benchmark interest rate (LIBOR) associated with the subordinated debentures issued June 21, 2007. Quarterly, commencing June 15, 2020, under the terms of the forward swap, the Company pays interest at a fixed rate of 4.93% until March 15, 2030. On February 26, 2020, the Company entered into a forward swap with a notional amount of $9,000,000 effective March 16, 2020, which hedges against changes in cash flows following the termination of the fixed rate period. Quarterly, commencing June 15, 2020 under the terms of the forward swap, the Company pays interest at a fixed rate of 5.28% until March 15, 2030. On May 26, 2010, the Company entered into a forward swap with a notional amount of $9,000,000 effective December 15, 2015, which hedges against changes in cash flows following the termination of the fixed rate period. Quarterly, commencing March 16, 2016 under the terms of the forward swap, the Company paid interest at a fixed rate of 8.49% until March 15, 2020. The interest rate swaps have fair values of $200,000 (liability) and $599,000 (liability), respectively, for a total liability of $799,000 at September 30, 2020 ($65,000 at December 31, 2019). The swap liability is reported as a component of other liabilities on the condensed consolidated balance sheets. A net valuation loss of $580,000 (net of tax) is included in accumulated other comprehensive income related to the swap agreements at September 30, 2020. A net valuation gain of $134,000 (net of tax) was included in accumulated other comprehensive income related to the swap at December 31, 2019. We use dollar offset at the hedge's inception and for each reporting period thereafter to assess whether the derivative used in a hedging transaction is expected to be, and has been, effective in offsetting changes in the fair value of the hedged item. Since inception, no portion of the hedged item has been deemed ineffective. For all hedges, we discontinue hedge accounting if it is determined that a derivative is not expected to be, or has ceased to be, effective as a hedge. The Company’s interest rate swaps include provisions requiring the Company to post collateral when the derivative is in a net liability position. At September 30, 2020, the Company has securities on deposit with fair market values of $1,197,000 (all of which is posted as collateral). At December 31, 2019, the Company had securities on deposit with fair market values of $294,000 (all of which was posted as collateral). See Note 4 for additional information about the interest rate swaps.

POLICY AND CLAIM RESERVES

POLICY AND CLAIM RESERVES	9 Months Ended
	Sep. 30, 2020
Insurance [Abstract]
POLICY AND CLAIM RESERVES	POLICY AND CLAIM RESERVES The Company regularly updates its reserve estimates as new information becomes available and events occur that may impact the resolution of unsettled claims. Reserve estimation can be an inherently uncertain process and reserve estimates can be revised up or down depending on changes in circumstances. Changes in prior years' reserve estimates are reflected in the results of operations in the year such changes are determined. The following table is a reconciliation of beginning and ending property and casualty reserve balances for claims and claim adjustment expense: ($ in thousands) Nine months ended 2020 2019 Summary of claims and claim adjustment expense reserves Balance, beginning of year $ 7,199 $ 8,208 Less reinsurance recoverable on unpaid losses 249 1,384 Net balances at beginning of year 6,950 6,824 Net losses: Provision for claims and claim adjustment expenses for claims arising in current year 38,477 27,126 Estimated claims and claim adjustment expenses for claims arising in prior years (1,214) (1,014) Total increases 37,263 26,112 Claims and claim adjustment expense payments for claims arising in: Current year 31,637 22,694 Prior years 4,531 3,496 Total payments 36,168 26,190 Net balance at end of period 8,045 6,746 Plus reinsurance recoverable on unpaid losses 2,778 211 Claims and claim adjustment expense reserves at end of period $ 10,823 $ 6,957 Claims and claim adjustment expense reserves before reinsurance recoverable at September 30, 2020 were up compared to the same period last year due to an increase in spring storm activity in the second quarter of 2020 and two hurricanes in the third quarter of 2020. Hurricane losses during the third quarter were the primary factors contributing to the increase in end of period claims and claim adjustment expense reserves September 30, 2020 compared to September 30, 2019. The estimate for claims arising in prior years was reduced $1,214,000 in 2020 (reduced $1,014,000 in 2019) due to favorable loss development during the year on claims arising in prior years. Accident and Health Claim Reserves

REINSURANCE

REINSURANCE	9 Months Ended
	Sep. 30, 2020
Reinsurance Disclosures [Abstract]
REINSURANCE	REINSURANCE The Company's insurance operations utilize reinsurance in the risk management process in order to limit losses, minimize exposure to large risks, provide additional capacity for future growth and effect business-sharing arrangements. Life reinsurance is placed through yearly renewable term coverage. Property and casualty reinsurance is placed on an excess of loss basis to cover losses from catastrophe events. Reinsurance contracts do not relieve the insurance subsidiaries of the obligation indemnify policyholders with respect to the underlying insurance contracts. Failure of re-insurers to honor their obligations could result in credit related losses to the insurance subsidiaries. The insurance subsidiaries evaluate the financial conditions of their reinsurance companies and monitor concentrations of credit risk arising from similar geographic regions, activities, or economic characteristics of the companies to minimize their exposure to significant losses from reinsurance insolvencies. In the normal course of business, NSFC seeks to reduce the loss that may arise from catastrophes or other individually significant large loss events that cause unfavorable underwriting results or have adverse impacts on regulatory capital levels by re-insuring certain levels of risk in various areas of exposure with reinsurance companies. NSFC maintains a catastrophe reinsurance agreement to cover losses from catastrophic events, primarily hurricanes and tropical storms. Under the catastrophe reinsurance program, the Company retains the first $4,000,000 in losses from the first catastrophe event and $2,000,000 from a second catastrophe event. Catastrophe reinsurance coverage is maintained in three layers as follows: Layer Reinsurers' Limits of Liability First Layer 100% of $13,500,000 in excess of $4,000,000 retention Second Layer 100% of $25,000,000 in excess of $17,500,000 Third Layer 100% of $30,000,000 in excess of $42,500,000 Catastrophe Aggregate 100% of $2,000,000 in excess of $2,000,000 aggregate annual deductible Each reinsurance layer covers events occurring from January 1 through December 31 of the contract year. All significant reinsurance companies under the program carry A.M. Best ratings of A- (Excellent) or higher, or equivalent ratings. The Company's catastrophe reinsurance contract allows for one reinstatement. The Company maintains reinstatement premium protection (RPP) to cover reinstatement premiums incurred. The RPP further reduces risk from a major catastrophe and serves to protect the Company's capital position by reducing the modeled 100 year event net cost. Amounts recoverable from re-insurers are estimated in a manner consistent with the claim liability associated with the underlying insurance policies. Amounts paid for prospective reinsurance contracts are reported as prepaid reinsurance premiums and amortized over the remaining contract period. In the normal course of business, NSIC seeks to limit its exposure to loss on any single insured and to recover a portion of benefits paid by ceding reinsurance to reinsurance companies under excess coverage contracts. NSIC retains a maximum of $50,000 of coverage per individual life. Cost is amortized over the reinsurance contract period. At September 30, 2020, the largest reinsurance recoverable of a single reinsurer was $1,347,000 ($10,000 at December 31, 2019). Amounts reported as ceded incurred losses were related to development of losses from prior year catastrophes.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS The Company and its subsidiaries have an established retirement savings plan (401K Plan). All full-time employees are eligible to participate, and all employer contributions are fully vested for employees who have completed 1,000 hours of service in the year of contribution. Company matching contributions for the nine months ended September 30, 2020 and 2019 amounted to $140,000 and $136,000, respectively. The Company contributes dollar-for-dollar matching contributions up to 5% of compensation subject to government limits. The Company established a non-qualified plan under which Company directors are allowed to defer all or a portion of directors' fees into various investment options. A supplemental executive retirement plan (SERP) covers named executive officers, with the Company contributing 15% of executive compensation to the plan. Contributions to the plan are fully vested upon the earlier of death, disability, change in control, or ten years of participation in the plan. Costs for amounts related to the non-qualified deferred compensation plans for the nine months ended September 30, 2020 and 2019 amounted to approximate increases of $124,000 and $412,000 in employee benefit related expenses, respectively.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS' EQUITY During the nine months ended September 30, 2020 and year ended December 31, 2019, changes in shareholders' equity consisted of net loss of $6,364,000 and net income of $4,067,000, respectively; dividends paid of $455,000 in 2020 and $531,000 in 2019; other comprehensive income of $429,000 in 2020 and $4,013,000 in 2019; common stock issued of $25,000 in 2020 and $53,000 in 2019; and the purchase of treasury shares of $34,000 in 2020 and $7,000 in 2019. Other comprehensive income/loss consisted of changes in accumulated unrealized gains/losses on securities available-for-sale and changes in accumulated unrealized losses on interest rate swaps. Preferred Stock Preferred Stock may be issued in one or more series as shall from time to time be determined and authorized by the Board of Directors. The directors may make specific provisions regarding (a) the voting rights, if any (b) whether such dividends are to be cumulative or noncumulative (c) the redemption provisions, if any (d) participating rights, if any (e) any sinking fund or other retirement provisions (f) dividend rates (g) the number of shares of such series and (h) liquidation preference. There is currently no Preferred Stock issued or outstanding. Common Stock The holders of the Class A Common Stock will have one-twentieth of one vote per share, and the holders of the common stock will have one vote per share. There is currently no Class A Common Stock issued or outstanding. In the event of any liquidation, dissolution or distribution of the assets of the Company remaining after the payments to the holders of the Preferred Stock of the full preferential amounts to which they may be entitled as provided in the resolution or resolutions creating any series thereof, the remaining assets of the Company shall be divided and distributed among the holders of both classes of common stock, except as may otherwise be provided in any such resolution or resolutions. The table below provides information regarding the Company's preferred and common stock as of September 30, 2020 and December 31, 2019: September 30, 2020 Authorized Issued Treasury Outstanding Preferred Stock, $1 par value 500,000 — — — Class A Common Stock, $1 par value 2,000,000 — — — Common Stock, $1 par value 3,000,000 2,533,315 2,800 2,530,515 December 31, 2019 Authorized Issued Treasury Outstanding Preferred Stock, $1 par value 500,000 — — — Class A Common Stock, $1 par value 2,000,000 — — — Common Stock, $1 par value 3,000,000 2,531,552 436 2,531,116 On May 22, 2020, 1,763 shares of common stock were issued to directors as compensation under the 2019 Equity Incentive Plan previously approved by shareholders. Treasury Stock Treasury stock may be purchased pursuant to the share repurchase plan authorized by the Board of Directors in May 2020. Effective June 1, 2020, the Board authorized the repurchase of up to $500,000 of the Company's outstanding common stock. The plan expires November 30, 2020. During the nine months ended September 30, 2020, the Company purchased 2,364 shares of common stock and which were placed in treasury stock. During the year ended December 31, 2019, the Company purchased 436 shares of common stock which were placed in treasury stock.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Accumulated other comprehensive income (loss) ("AOCI") includes certain items that are reported directly within a separate component of shareholders' equity. The following table presents changes in AOCI balances: ($ in thousands) Nine months ended 2020 2019 Unrealized Gains (Losses) on Cash Flow Hedges Balance at beginning of period $ (51) $ (185) Other comprehensive income (loss) for period: Other comprehensive gain (loss) before reclassifications (580) 92 Net current period other comprehensive income (loss) (580) 92 Balance at end of period $ (631) $ (93) Unrealized Gains (Losses) on Available-for-Sale Securities Balance at beginning of period $ 2,494 $ (1,385) Other comprehensive income (loss) for period: Other comprehensive income (loss) before reclassifications 2,072 4,214 Amounts reclassified from accumulated other comprehensive (income) loss (1,063) 7 Net current period other comprehensive income 1,009 4,221 Balance at end of period $ 3,503 $ 2,836 Total Accumulated Other Comprehensive Income at end of period $ 2,872 $ 2,743 The following table presents the amounts reclassified out of AOCI for the nine months ended September 30, 2020: ($ in thousands) Details about Accumulated Other Comprehensive Income Components Amounts Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains and Losses on $ 1,345 Net investment gains 1,345 Total before tax (282) Tax (expense) or benefit $ 1,063 Net of Tax The following table presents the amounts reclassified out of AOCI for the nine months ended September 30, 2019: ($ in thousands) Details about Accumulated Other Comprehensive Income Components Amounts Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains and Losses on $ (9) Net investment losses (9) Total before tax 2 Tax (expense) or benefit $ (7) Net of Tax

SEGMENTS

SEGMENTS	9 Months Ended
	Sep. 30, 2020
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
SEGMENTS	SEGMENTS The Company’s property and casualty insurance operations comprise one business segment. The property and casualty insurance segment primarily underwrites home insurance coverage with primary lines of business consisting of dwelling fire and extended coverage, homeowners (including mobile homeowners) and other liability. Management organizes the business utilizing a niche strategy focusing on lower valued dwellings and older homes that can be difficult to insure in the standard insurance market. Our chief decision makers (Chief Executive Officer, Chief Financial Officer and subsidiary President) review results and operating plans making decisions on resource allocations on a company-wide basis. The Company’s products are primarily produced through independent agents within the states in which we operate. The Company’s life and accident and health operations comprise the second business segment. The life and accident and health insurance segment consists of two lines of business: traditional life insurance and supplemental accident and health insurance. Total assets by industry segment at September 30, 2020 and December 31, 2019 are summarized below: ($ in thousands) Assets by industry segment Total P&C Insurance Operations Life Insurance Operations Non-Insurance Operations September 30, 2020 $ 155,556 $ 84,280 $ 65,566 $ 5,710 December 31, 2019 $ 153,934 $ 83,917 $ 65,605 $ 4,412 Net income (loss) by business segment for the three months ended September 30, 2020 and 2019 is summarized below: ($ in thousands) Three months ended September 30, 2020 P&C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter- company Eliminations Total REVENUE Net premiums earned $ 13,786 $ 1,503 $ — $ — $ 15,289 Net investment income 389 614 16 (135) 884 Investment gains 678 747 5 — 1,430 Other income 162 334 274 (608) 162 15,015 3,198 295 (743) 17,765 BENEFITS AND EXPENSES Policyholder benefits paid 11,851 1,646 — (194) 13,303 Amortization of deferred policy acquisition costs 681 155 — — 836 Commissions 1,431 62 — — 1,493 General and administrative expenses 2,027 554 280 (549) 2,312 Taxes, licenses and fees 564 40 — — 604 Interest expense — 10 190 — 200 16,554 2,467 470 (743) 18,748 Income (Loss) Before Income Taxes (1,539) 731 (175) — (983) INCOME TAX EXPENSE (BENEFIT) (347) 179 (37) — (205) Net Income (Loss) $ (1,192) $ 552 $ (138) $ — $ (778) ($ in thousands) Three months ended September 30, 2019 P&C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter-company Total REVENUE Net premiums earned $ 13,628 $ 1,581 $ — $ — $ 15,209 Net investment income 404 708 12 (135) 989 Investment gains (losses) (50) (68) 1 — (117) Other income 148 226 266 (492) 148 14,130 2,447 279 (627) 16,229 BENEFITS AND EXPENSES Policyholder benefits paid 8,564 1,303 — (117) 9,750 Amortization of deferred policy acquisition costs 681 124 — — 805 Commissions 1,919 87 — — 2,006 General and administrative expenses 2,070 531 135 (510) 2,226 Taxes, licenses and fees 528 76 — — 604 Interest expense — 13 280 — 293 13,762 2,134 415 (627) 15,684 Income (Loss) Before Income Taxes 368 313 (136) — 545 INCOME TAX EXPENSE (BENEFIT) 76 67 (28) — 115 Net Income (Loss) $ 292 $ 246 $ (108) $ — $ 430 Net income (loss) by business segment for the nine months ended September 30, 2020 and 2019 is summarized below: ($ in thousands) Nine months ended September 30, 2020 P&C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter- company Eliminations Total REVENUE Net premiums earned $ 40,996 $ 4,420 $ — $ — $ 45,416 Net investment income 1,169 2,003 42 (405) 2,809 Investment gains (losses) 693 296 (1) — 988 Other income 449 921 796 (1,716) 450 43,307 7,640 837 (2,121) 49,663 BENEFITS AND EXPENSES Policyholder benefits paid 37,264 3,908 — (550) 40,622 Amortization of deferred policy acquisition costs 2,043 706 — — 2,749 Commissions 5,411 204 — — 5,615 General and administrative expenses 5,913 1,396 461 (1,571) 6,199 Taxes, licenses and fees 1,740 179 — — 1,919 Interest expense — 29 631 — 660 52,371 6,422 1,092 (2,121) 57,764 Income (Loss) Before Income Taxes (9,064) 1,218 (255) — (8,101) INCOME TAX EXPENSE (BENEFIT) (1,937) 254 (54) — (1,737) Net Income (Loss) $ (7,127) $ 964 $ (201) $ — $ (6,364) ($ in thousands) Nine months ended September 30, 2019 P&C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter-company Total REVENUE Net premiums earned $ 40,356 $ 4,561 $ — $ — $ 44,917 Net investment income 1,255 2,022 36 (405) 2,908 Investment gains 1,991 109 20 — 2,120 Other income 430 689 785 (1,464) 440 44,032 7,381 841 (1,869) 50,385 BENEFITS AND EXPENSES Policyholder benefits paid 26,112 3,916 — (355) 29,673 Amortization of deferred policy acquisition costs 2,043 581 — — 2,624 Commissions 5,795 222 — — 6,017 General and administrative expenses 6,200 1,471 817 (1,514) 6,974 Taxes, licenses and fees 1,659 231 — — 1,890 Interest expense — 34 845 — 879 41,809 6,455 1,662 (1,869) 48,057 Income (Loss) Before Income Taxes 2,223 926 (821) — 2,328 INCOME TAX EXPENSE (BENEFIT) 33 186 (177) — 42 Net Income (Loss) $ 2,190 $ 740 $ (644) $ — $ 2,286 The following table presents the Company’s gross and net premiums written for the property and casualty segment and the life and accident and health segment for the three and nine months ended September 30, 2020 and 2019, respectively: ($ in thousands) Three months ended Nine months ended 2020 2019 2020 2019 Life, accident and health operations premiums written: Traditional life insurance $ 1,003 $ 1,062 $ 3,086 $ 3,151 Accident and health insurance 538 623 1,330 1,376 Gross life, accident and health 1,541 1,685 4,416 4,527 Reinsurance premium ceded (14) (11) (71) (64) Net life, accident and health premiums written $ 1,527 $ 1,674 $ 4,345 $ 4,463 Property and Casualty operations premiums written: Dwelling fire & extended coverage $ 10,316 $ 9,927 $ 31,710 $ 30,266 Homeowners (Including mobile homeowners) 5,205 5,235 15,933 16,098 Other liability 556 561 1,747 1,743 Gross property and casualty 16,077 15,723 49,390 48,107 Reinsurance premium ceded (1,999) (1,930) (5,547) (5,155) Net property and casualty written $ 14,078 $ 13,793 $ 43,843 $ 42,952 Consolidated gross premiums written $ 17,618 $ 17,408 $ 53,806 $ 52,634 Reinsurance premium ceded (2,013) (1,941) (5,618) (5,219) Consolidated net premiums written $ 15,605 $ 15,467 $ 48,188 $ 47,415 The following table presents the Company’s gross and net premiums earned for the property and casualty segment and the life and accident and health segment for the three and nine months ended September 30, 2020 and 2019, respectively: ($ in thousands) Three months ended Nine months ended 2020 2019 2020 2019 Life, accident and health operations premiums earned: Traditional life insurance $ 978 $ 1,008 $ 3,165 $ 3,249 Accident and health insurance 539 584 1,326 1,376 Gross life, accident and health 1,517 1,592 4,491 4,625 Reinsurance premium ceded (14) (11) (71) (64) Net life, accident and health premiums earned $ 1,503 $ 1,581 $ 4,420 $ 4,561 Property and Casualty operations premiums earned: Dwelling fire & extended coverage $ 10,103 $ 9,644 $ 29,591 $ 28,401 Homeowners (Including mobile homeowners) 5,120 5,178 15,281 15,585 Other liability 562 560 1,671 1,654 Gross property and casualty 15,785 15,382 46,543 45,640 Reinsurance premium ceded (1,999) (1,754) (5,547) (5,284) Net property and casualty earned $ 13,786 $ 13,628 $ 40,996 $ 40,356 Consolidated gross premiums earned $ 17,302 $ 16,974 $ 51,034 $ 50,265 Reinsurance premium ceded (2,013) (1,765) (5,618) (5,348) Consolidated net premiums earned $ 15,289 $ 15,209 $ 45,416 $ 44,917

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES In the ordinary course of business, the Company and its subsidiaries are routinely a defendant in or party to pending or threatened legal actions and proceedings related to the conduct of their insurance operations. These suits can involve alleged breaches of contracts, torts, including bad faith and fraud claims based on alleged wrongful or fraudulent acts of the Company's subsidiaries, and other miscellaneous causes of action. It is inherently difficult to predict the outcome of such matters, particularly when the claimant seeks very large or indeterminate damages or when the matters present novel legal theories or involve multiple parties. An accrued liability is established when loss contingencies are both probable and estimable. However, there is potential loss exposure in excess of any accrued amounts. The Company monitors pending matters for further development that could affect the amount of the accrued liability. The Company's property & casualty subsidiaries had one action remaining in Texas filed in the aftermath of Hurricane Ike which was favorably resolved in the second quarter of 2020 with no material impact on these consolidated financial statements.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	9 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION Cash paid for interest during the nine months ended September 30, 2020 was $593,000 ($774,000 in 2019). Cash paid for income taxes during the nine months ended September 30, 2020 was $230,000. Cash received from income taxes during the nine months ended September 30, 2019 was $373,000. During the nine months ended September 30, 2020, non-cash changes in equity included $1,000 in common stock issued to Directors in lieu of cash compensation along with a corresponding $24,000 increase in additional paid-in capital.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Management has evaluated subsequent events and their potential effects on these condensed consolidated financial statements through the filing date of this Form 10-Q. Catastrophe Losses In October 2020, the Company's Property and Casualty subsidiary incurred an increase in claims due to Hurricanes Delta and Zeta. The cumulative losses from these events will materially impact our fourth quarter results of operations. Net of reinsurance, claims reported from these catastrophe events are expected to total between $6,500,000-$7,000,000. Because these events occurred after the balance sheet date of these financial statements, no provision for these hurricane losses have been included in these financial statements.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Principles of Consolidation	The accompanying condensed consolidated financial statements include the accounts of The National Security Group, Inc. (the Company) and its wholly-owned subsidiaries:  National Security Insurance Company (NSIC), National Security Fire and Casualty Company (NSFC) and NATSCO, Inc. (NATSCO).  NSFC includes a wholly-owned subsidiary, Omega One Insurance Company (Omega).  The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP).  In the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair presentation of the condensed consolidated financial statements have been included. All significant intercompany transactions and accounts have been eliminated in the condensed consolidated financial statements.
Basis of Presentation	The financial information presented herein should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, which includes information and disclosures not presented herein.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Among the more significant estimates included in these condensed consolidated financial statements are reserves for future life insurance policy benefits, liabilities for losses and loss adjustment expenses, reinsurance recoverable associated with loss and loss adjustment expense liabilities, deferred policy acquisition costs, deferred income tax assets and liabilities, assessments of other-than-temporary impairments on investments and accruals for contingencies.  Actual results could differ from the estimates used in preparing these condensed consolidated financial statements.
Earnings Per Share	Earnings per share of common stock is based on the weighted average number of shares outstanding during each year. The adjusted weighted average shares outstanding were 2,530,736 at September 30, 2020 and 2,529,352 at September 30, 2019. The Company did not have any dilutive securities as of September 30, 2020 and 2019.
Reclassifications	Certain 2019 amounts have been reclassified from the prior year condensed consolidated financial statements to conform to the 2020 presentation.
Concentration of Credit Risk	The Company maintains cash balances which are generally held in non-interest bearing demand deposit accounts subject to FDIC insured limits of $250,000 per entity. At September 30, 2020, the net amount exceeding FDIC insured limits was $6,775,000 at three financial institutions. The Company has not experienced any losses in such accounts. Management of the Company reviews financial information of financial institutions on a quarterly basis and believes the Company is not exposed to any significant credit risk on cash and cash equivalents. Policy receivables are reported at unpaid balances. Policy receivables are generally offset by associated unearned premium liabilities and are not subject to significant credit risk. Receivables from agents, less provision for credit losses, are composed of balances due from independent agents. At September 30, 2020, the single largest balance due from one agent totaled $561,000. Reinsurance contracts do not relieve the Company of its obligations to policyholders. A failure of a reinsurer to meet its obligation could result in losses to the insurance subsidiaries. Allowances for losses on reinsurance recoverables are established if amounts are believed to be uncollectible. At September 30, 2020 and December 31, 2019, no amounts were deemed uncollectible. The Company, at least annually, evaluates the financial condition of all reinsurers and evaluates any potential concentrations of credit risk. At September 30, 2020, management does not believe the Company is exposed to any significant credit risk related to its reinsurance program.
Accounting Changes Not Yet Adopted and Recently Adopted Accounting Standards	Accounting Changes Not Yet Adopted Reference Rate Reform In March 2020, the Financial Accounting Standards Board (FASB) issued guidance that provides temporary optional expedients and exceptions to the current guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. The Company has exposure to LIBOR based financial instruments through its subordinated debentures. The contracts with respect to these borrowings contain alternative reference rates that would automatically take effect upon the phasing out of LIBOR and would not materially change the liability exposure. The guidance was effective upon issuance and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Company is evaluating the optional expedients and exceptions in the guidance but does not expect the adoption of this guidance to have a material impact on its financial position or results of operations. Simplifying the Accounting for Income Taxes In December 2019, the FASB issued guidance to simplify the accounting for income taxes. The guidance removes certain exceptions to general principles in the income tax guidance and amends existing guidance to improve consistent application. The guidance is effective for fiscal years beginning after December 15, 2020. The Company is currently evaluating the impact of this new guidance. The Company does not expect the adoption to have a material impact on its financial position or results of operations. Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued guidance to improve the existing recognition, measurement, presentation and disclosure requirements for long-duration contracts issued by an insurance entity. The guidance improves timeliness of recognizing changes in the liability for future policy benefits and modifies the rate used to discount future cash flows. The guidance will simplify and improve accounting for certain market-based options or guarantees associated with deposit type contracts and simplify the amortization of deferred policy acquisition costs. The guidance also introduces certain financial statement presentation requirements, as well as significant additional quantitative and qualitative disclosures. The guidance is effective for fiscal years beginning after December 15, 2024 and interim periods within those fiscal years beginning after December 15, 2025. Early adoption is permitted. The Company is currently evaluating the impact of this new guidance. Due to the nature and extent of the changes required to the Company’s life insurance operations, the adoption of this standard is expected to have a material impact on the consolidated financial statements. Financial Instruments - Credit Losses In June 2016, the FASB issued guidance that replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The FASB released additional guidance in November 2018 that provides scope clarification. This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those years. The Company does not expect the adoption to have a material impact on its financial position or results of operations. Recently Adopted Accounting Standards Changes to the Disclosure Requirements for Fair Value Measurement In August 2018, the FASB issued guidance that removes, modifies and adds to the disclosure requirements related to fair value measurements. The guidance removes the requirements to disclose the amount and reasons for transfers between Level 1 and Level 2 assets, the policy for timing and transfers between levels and the valuation process for Level 3 fair value measurements. The guidance modifies disclosure requirements for investments in certain entities that calculate net asset value and clarifies the purpose of the measurement uncertainty disclosure. The guidance adds requirements to disclose changes in unrealized gains or losses included in other comprehensive income for recurring Level 3 fair value measurements and to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. The guidance is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. The Company adopted this guidance on January 1, 2020. The adoption of this guidance did not have a material impact on its financial position or results of operations. Contingent Put and Call Options in Debt Instruments In March 2016, the FASB issued guidance that clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. This guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those years. The Company adopted this guidance on January 1, 2020. The adoption of this guidance did not have a material impact on its financial position or results of operations.
Variable Interest Entities	The Company holds passive interests in limited partnerships that are considered to be Variable Interest Entities (VIE) under the provisions of ASC 810 Consolidation . The Company is not the primary beneficiary of the entities and is not required to consolidate under ASC 810. The entities are private placement investment funds formed for the purpose of investing in private equity investments. The Company owns less than 1% of the limited partnerships. The carrying value of the investments totals $387,000 and is included as a component of Other Invested Assets in the accompanying condensed consolidated balance sheets.
Marketable Securities	For securities in an unrealized loss position, the Company assesses whether the Company has the intent to sell the security or more-likely-than-not will be required to sell the security before the anticipated recovery.  If either of these conditions is met, the Company is required to recognize an other-than-temporary impairment with the entire unrealized loss reported in earnings.  For securities in an unrealized loss position that do not meet these conditions, the Company assesses whether the impairment of a security is other-than-temporary.  If the impairment is determined to be other-than-temporary, the Company is required to separate the other-than-temporary impairments into two components:  the amount representing the credit loss and the amount related to all other factors.  The credit loss is the portion of the amortized book value in excess of the net present value of the projected future cash flows discounted at the effective interest rate implicit in the debt security prior to impairment.  The credit loss component of other-than-temporary impairments is reported in earnings, whereas the amount relating to factors other than credit losses are recorded in other comprehensive income, net of taxes.
Fair Values of Financial Instruments	Our available-for-sale securities consists of fixed maturity and equity securities which are recorded at fair value in the accompanying condensed consolidated balance sheets. We are permitted to elect to measure financial instruments and certain other items at fair value, with the change in fair value recorded in earnings. We elected not to measure any eligible items using the fair value option. Accounting standards define fair value as the price that would be received to sell an asset or would be paid to transfer a liability in an orderly transaction between market participants at the measurement date, and establishes a framework to make the measurement of fair value more consistent and comparable. In determining fair value, we primarily use prices and other relevant information generated by market transactions involving identical or comparable assets. The Company categorizes assets and liabilities carried at their fair value based upon a fair value hierarchy: Level 1 - Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 1 assets and liabilities consist of money market fund deposits and certain of our marketable debt and equity instruments, including equity instruments offsetting deferred compensation, that are traded in an active market with sufficient volume and frequency of transactions. Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets include certain of our marketable debt and equity instruments with quoted market prices that are traded in less active markets or priced using a quoted market price for similar instruments. Level 2 assets also include marketable equity instruments with security-specific restrictions that would transfer to the buyer, marketable debt instruments priced using indicator prices which represent non-binding market consensus prices that can be corroborated by observable market quotes, as well as derivative contracts and debt instruments priced using inputs that are observable in the market or can be derived principally from or corroborated by observable market data. Marketable debt instruments in this category generally include commercial paper, bank time deposits, repurchase agreements for fixed-income instruments, and a majority of floating-rate notes, corporate bonds, and municipal bonds. Level 3 - Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. Level 3 assets and liabilities include marketable debt instruments, non-marketable equity investments, derivative contracts, and company issued debt with values are determined using inputs that are both unobservable and significant to the values of the instruments being measured. Level 3 assets also include marketable debt instruments that are priced using indicator prices that we were unable to corroborate with observable market quotes. Marketable debt instruments in this category generally include asset-backed securities and certain floating-rate notes, corporate bonds, and municipal bonds. Fixed maturities available-for-sale — The fair values of the Company’s public fixed maturity securities are generally based on prices obtained from independent pricing services. Consistent with the fair value hierarchy described above, securities with quoted market prices in active markets for identical assets are reflected within Level 1 while securities with validated quotes from pricing services are generally reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. Trading securities — Trading securities consist primarily of mutual funds whose fair values are determined consistent with similar instruments described above under “Fixed Maturities” and below under “Equity Securities.” Equity securities — Equity securities consist principally of investments in common and preferred stock of publicly traded companies and privately traded securities. The fair values of our publicly traded equity securities are based on quoted market prices in active markets for identical assets and are classified within Level 1 in the fair value hierarchy. Estimated fair values for our privately traded equity securities require a substantial level of judgment. Privately traded equity securities are classified within Level 3. Interest rate swaps — Interest rate swaps are recorded at fair value either as assets, within other assets or as liabilities, within other liabilities. The fair values of our interest rate swaps are provided by a third-party broker and are classified within Level 3. The following methods and assumptions were used to estimate fair value of each class of financial instrument for which it is practical to estimate that value: Cash and cash equivalents — the carrying amount is a reasonable estimate of fair value. Fixed maturities held-to-maturity — the carrying amount is amortized cost; the fair values of the Company’s public fixed maturity securities that are classified as held-to-maturity are generally based on prices obtained from independent pricing services. Mortgage loans — the carrying amount is a reasonable estimate of fair value due to the restrictive nature and limited marketability of the mortgage notes. Policy loans — the carrying amount is a reasonable estimate of fair value. Company owned life insurance — the carrying amount is a reasonable estimate of fair value. Other invested assets — the carrying amount is a reasonable estimate of fair value. Other policyholder funds — the carrying amount is a reasonable estimate of fair value. Debt — the carrying amount is a reasonable estimate of fair value.
Derivatives	The Company is exposed to certain risks in the normal course of its business operations.  The primary risk that is managed through the use of derivatives is interest rate risk on floating rate borrowings.  This risk is managed through the use of interest rate swap agreements which are designated as cash flow hedges.  For cash flow hedges, the effective portion of the gain or loss on the interest rate swap is included as a component of other comprehensive income and reclassified into earnings in the same period during which the hedged transaction is recognized in earnings.  The Company does not hold or issue derivatives that are not designated as hedging instruments.  The swap liability is reported as a component of other liabilities on the condensed consolidated balance sheets.We use dollar offset at the hedge's inception and for each reporting period thereafter to assess whether the derivative used in a hedging transaction is expected to be, and has been, effective in offsetting changes in the fair value of the hedged item. Since inception, no portion of the hedged item has been deemed ineffective. For all hedges, we discontinue hedge accounting if it is determined that a derivative is not expected to be, or has ceased to be, effective as a hedge.
Reinsurance	The Company's insurance operations utilize reinsurance in the risk management process in order to limit losses, minimize exposure to large risks, provide additional capacity for future growth and effect business-sharing arrangements. Life reinsurance is placed through yearly renewable term coverage. Property and casualty reinsurance is placed on an excess of loss basis to cover losses from catastrophe events. Reinsurance contracts do not relieve the insurance subsidiaries of the obligation indemnify policyholders with respect to the underlying insurance contracts. Failure of re-insurers to honor their obligations could result in credit related losses to the insurance subsidiaries. The insurance subsidiaries evaluate the financial conditions of their reinsurance companies and monitor concentrations of credit risk arising from similar geographic regions, activities, or economic characteristics of the companies to minimize their exposure to significant losses from reinsurance insolvencies. In the normal course of business, NSFC seeks to reduce the loss that may arise from catastrophes or other individually significant large loss events that cause unfavorable underwriting results or have adverse impacts on regulatory capital levels by re-insuring certain levels of risk in various areas of exposure with reinsurance companies.  NSFC maintains a catastrophe reinsurance agreement to cover losses from catastrophic events, primarily hurricanes and tropical stormsAmounts recoverable from re-insurers are estimated in a manner consistent with the claim liability associated with the underlying insurance policies.  Amounts paid for prospective reinsurance contracts are reported as prepaid reinsurance premiums and amortized over the remaining contract period.In the normal course of business, NSIC seeks to limit its exposure to loss on any single insured and to recover a portion of benefits paid by ceding reinsurance to reinsurance companies under excess coverage contracts.  NSIC retains a maximum of $50,000 of coverage per individual life.  Cost is amortized over the reinsurance contract period.
Business Segment	The Company’s property and casualty insurance operations comprise one business segment. The property and casualty insurance segment primarily underwrites home insurance coverage with primary lines of business consisting of dwelling fire and extended coverage, homeowners (including mobile homeowners) and other liability. The Company’s life and accident and health operations comprise the second business segment.  The life and accident and health insurance segment consists of two lines of business: traditional life insurance and supplemental accident and health insurance.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2020
Investments [Abstract]
Schedule of Amortized Cost and Aggregate Fair Values of Investments in Available-for-Sale Securities	The amortized cost and aggregate fair values of investments in available-for-sale securities as of September 30, 2020 are as follows: ($ in thousands) Available-for-sale securities: Amortized Gross Gross Fair U.S. Government corporations and agencies $ 4,527 $ 343 $ — $ 4,870 Agency mortgage backed securities 23,769 1,033 88 24,714 Asset backed securities 9,456 123 349 9,230 Private label mortgage backed securities 1,429 47 11 1,465 Corporate bonds 37,441 3,351 265 40,527 States, municipalities and political subdivisions 5,069 163 30 5,202 Foreign governments 841 118 — 959 Total Fixed Maturities 82,532 5,178 743 86,967 Equity securities 2,127 2,924 21 5,030 Total $ 84,659 $ 8,102 $ 764 $ 91,997 The amortized cost and aggregate fair values of investments in available-for-sale securities as of December 31, 2019 are as follows: ($ in thousands) Available-for-sale securities: Amortized Gross Gross Fair U.S. Government corporations and agencies $ 4,131 $ 150 $ — $ 4,281 Agency mortgage backed securities 32,283 861 157 32,987 Asset backed securities 10,307 71 104 10,274 Private label mortgage backed securities 6,815 441 4 7,252 Corporate bonds 36,074 1,816 70 37,820 States, municipalities and political subdivisions 6,669 109 1 6,777 Foreign governments 823 46 — 869 Total Fixed Maturities 97,102 3,494 336 100,260 Equity securities 2,127 3,176 — 5,303 Total $ 99,229 $ 6,670 $ 336 $ 105,563
Schedule of Held-to-Maturity Securities	The amortized cost and aggregate fair values of investments in held-to-maturity securities as of September 30, 2020 are as follows: ($ in thousands) Held-to-maturity securities: Amortized Gross Gross Fair Agency mortgage backed securities $ 1,019 $ 88 $ — $ 1,107 Total $ 1,019 $ 88 $ — $ 1,107 The amortized cost and aggregate fair values of investments in held-to-maturity securities as of December 31, 2019 are as follows: ($ in thousands) Held-to-maturity securities: Amortized Gross Gross Fair Agency mortgage backed securities $ 1,290 $ 55 $ — $ 1,345 Total $ 1,290 $ 55 $ — $ 1,345
Schedule of Amortized Cost and Aggregate Fair Value of Debt Securities, by Contractual Maturity	The amortized cost and aggregate fair value of debt securities at September 30, 2020, by contractual maturity, are presented in the following table. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. ($ in thousands) Amortized Fair Available-for-sale securities: Due in one year or less $ 260 $ 261 Due after one year through five years 18,449 19,374 Due after five years through ten years 26,124 27,471 Due after ten years 37,699 39,861 Total $ 82,532 $ 86,967 Held-to-maturity securities: Due after one year through five years $ 20 $ 21 Due after five years through ten years 3 4 Due after ten years 996 1,082 Total $ 1,019 $ 1,107
Schedule of Securities with Unrealized Losses	A summary of securities available-for-sale with unrealized losses as of September 30, 2020, along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows: ($ in thousands) Less than 12 months 12 months or longer Total September 30, 2020 Fair Gross Fair Gross Fair Gross Total Agency mortgage backed securities $ 4,896 $ 80 $ 4 $ 8 $ 4,900 $ 88 10 Asset backed securities 3,529 143 1,770 206 5,299 349 7 Private label mortgage backed securities 924 11 — — 924 11 1 Corporate bonds 4,366 256 491 9 4,857 265 9 States, municipalities and political subdivisions 778 30 — — 778 30 1 Equity securities 137 21 — — 137 21 2 $ 14,630 $ 541 $ 2,265 $ 223 $ 16,895 $ 764 30 There were no securities held-to-maturity with unrealized losses as of September 30, 2020. A summary of securities available-for-sale with unrealized losses as of December 31, 2019, along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows: ($ in thousands) Less than 12 months 12 months or longer Total December 31, 2019 Fair Gross Fair Gross Fair Gross Total Agency mortgage backed securities $ 5,663 $ 104 $ 1,751 $ 53 $ 7,414 $ 157 18 Asset backed securities 4,241 33 1,579 71 5,820 104 9 Private label mortgage backed securities 1,060 4 — — 1,060 4 1 Corporate bonds 6,363 54 1,484 16 7,847 70 14 States, municipalities and political subdivisions 512 1 — — 512 1 1 $ 17,839 $ 196 $ 4,814 $ 140 $ 22,653 $ 336 43 There were no securities held-to-maturity with unrealized losses as of December 31, 2019.
Summary of Major Categories of Investment Income	Major categories of investment income are summarized as follows: ($ in thousands) Three months ended Nine months ended 2020 2019 2020 2019 Fixed maturities $ 824 $ 960 $ 2,696 $ 2,831 Equity securities 30 19 102 66 Mortgage loans on real estate 1 2 5 6 Investment real estate — — 1 3 Policy loans 36 37 108 106 Other 28 6 6 13 919 1,024 2,918 3,025 Less: Investment expenses 35 35 109 117 Net investment income $ 884 $ 989 $ 2,809 $ 2,908
Schedule of Realized Investments Gains (Losses)	Major categories of investment gains and losses are summarized as follows: ($ in thousands) Three months ended Nine months ended 2020 2019 2020 2019 Realized gains (losses) on fixed maturities $ 1,091 $ (24) $ 1,107 $ (9) Gains (losses) on trading securities 5 1 (1) 9 Change in fair value of equity securities 223 (80) (272) 72 Change in surrender value of company owned life insurance 125 (14) 165 256 Realized gain on company owned life insurance — — — 1,792 Other losses principally real estate (14) — (11) — Net investment gains (losses) $ 1,430 $ (117) $ 988 $ 2,120
Schedule of Net Change in Unrealized Appreciation	An analysis of the net change in unrealized gains (losses) on available-for-sale securities follows: ($ in thousands) September 30, September 30, Fixed maturities $ 1,277 $ 5,343 Deferred income tax (268) (1,122) Change in net unrealized gains on available-for-sale securities $ 1,009 $ 4,221

FAIR VALUE OF FINANCIAL ASSET_2

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2020 are summarized in the following table by the type of inputs applicable to the fair value measurements: ($ in thousands) Fair Value Measurements at Reporting Date Using Description Total Level 1 Level 2 Level 3 Financial Assets Fixed maturities available-for-sale U.S. Government corporations and agencies $ 4,870 $ 4,870 $ — $ — Agency mortgage backed securities 24,714 13,258 11,456 — Asset backed securities 9,230 2,440 6,790 — Corporate bonds 40,527 — 40,527 — Private label asset backed securities 1,465 923 542 — States, municipalities and political subdivisions 5,202 — 5,202 — Foreign governments 959 959 — — Trading securities 151 151 — — Equity securities 5,030 3,592 — 1,438 Total Financial Assets $ 92,148 $ 26,193 $ 64,517 $ 1,438 Financial Liabilities Interest rate swap $ (799) $ — $ — $ (799) Total Financial Liabilities $ (799) $ — $ — $ (799) Financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2019 are summarized in the following table by the type of inputs applicable to the fair value measurements: ($ in thousands) Fair Value Measurements at Reporting Date Using Description Total Level 1 Level 2 Level 3 Financial Assets Fixed maturities available-for-sale U.S. Government corporations and agencies $ 4,281 $ 4,281 $ — $ — Agency mortgage backed securities 32,987 19,330 13,657 — Asset backed securities 10,274 2,601 7,673 — Corporate bonds 37,820 — 37,820 — Private label asset backed securities 7,252 1,060 6,192 — States, municipalities and political subdivisions 6,777 — 6,777 — Foreign governments 869 869 — — Trading securities 149 149 — — Equity securities available-for-sale 5,303 3,988 — 1,315 Total Financial Assets $ 105,712 $ 32,278 $ 72,119 $ 1,315 Financial Liabilities Interest rate swap $ (65) $ — $ — $ (65) Total Financial Liabilities $ (65) $ — $ — $ (65)
Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The table below presents a reconciliation for all assets and for all liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended September 30, 2020: ($ in thousands) For the nine months ended September 30, 2020 Equity Securities Interest Rate Swap Beginning balance $ 1,315 $ (65) Total gains or losses (realized and unrealized): Included in earnings 123 — Included in other comprehensive income — (734) Purchases: — — Sales: — — Issuances: — — Settlements: — — Transfers in/(out) of Level 3 — — Ending balance $ 1,438 $ (799) The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held as of September 30, 2020: $ — $ — The table below presents a reconciliation for all assets and for all liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2019: ($ in thousands) For the year ended December 31, 2019 Equity Securities Available-for-Sale Interest Rate Swap Beginning balance $ 1,125 $ (234) Total gains or losses (realized and unrealized): Included in earnings 645 — Included in other comprehensive income — 169 Purchases: — — Sales: (455) — Issuances: — — Settlements: — — Transfers in/(out) of Level 3 — — Ending balance $ 1,315 $ (65) The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held as of December 31, 2019: $ — $ —
Schedule of Fair Value, by Balance Sheet Grouping	The carrying amount and estimated fair value of the Company’s financial instruments as of September 30, 2020 and December 31, 2019 are as follows: ($ in thousands) September 30, 2020 December 31, 2019 Assets and related instruments Carrying Estimated Carrying Estimated Held-to-maturity securities $ 1,019 $ 1,107 $ 1,290 $ 1,345 Mortgage loans 145 145 147 147 Policy loans 1,857 1,857 1,895 1,895 Company owned life insurance 4,820 4,820 4,655 4,655 Other invested assets 2,053 2,053 2,280 2,280 Liabilities and related instruments Other policyholder funds 1,341 1,341 1,350 1,350 Short-term notes payable and current portion of long-term debt 500 500 500 500 Long-term debt 13,674 13,674 13,664 13,664

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Major categories of property and equipment are summarized as follows: ($ in thousands) September 30, 2020 December 31, 2019 Building and improvements $ 3,472 $ 3,472 Electronic data processing equipment 1,501 1,470 Furniture and fixtures 483 483 5,456 5,425 Less accumulated depreciation 3,879 3,795 Property and equipment, net $ 1,577 $ 1,630

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets and Liabilities	The tax effect of significant differences representing deferred tax assets and liabilities are as follows: ($ in thousands) As of September 30, As of December 31, General expenses $ 1,320 $ 1,269 Unearned premiums 1,423 1,288 Claims liabilities 662 645 NOL carryforward 131 — Impairment on real estate owned 109 119 Unrealized loss on interest rate swaps 167 14 Deferred tax assets 3,812 3,335 Unrealized gains on trading securities — (1) Depreciation (91) (93) Deferred policy acquisition costs (1,619) (1,610) Pre-1984 policyholder surplus account (347) (397) Unrealized gains on securities available-for-sale (931) (663) Unrealized gains on equity securities (610) (667) Deferred tax liabilities (3,598) (3,431) Net deferred tax asset (liability) $ 214 $ (96)
Changes in Temporary Differences in Federal Income Tax	The appropriate income tax effects of changes in temporary differences are as follows: ($ in thousands) Nine months ended 2020 2019 Deferred policy acquisition costs $ 9 $ 17 Other-than-temporary impairments 10 — Trading securities (1) 2 Unearned premiums (135) (114) General expenses (51) (85) Depreciation (2) — Claims liabilities (17) (30) Impact of repeal of special provision on pre-1984 policyholder surplus (50) (50) NOL carryforward (131) — Unrealized gains (losses) on equity securities (57) 15 Deferred income tax benefit $ (425) $ (245)
Schedule of Effective Income Tax Rate Reconciliation	Total income tax expense (benefit) varies from amounts computed by applying current federal income tax rates to income or loss before income taxes. The reasons for these differences and the approximate tax effects are as follows: Nine months ended 2020 2019 Federal income tax rate applied to pre-tax income (loss) 21.0 % 21.0 % Dividends received deduction and tax-exempt interest 0.1 % (0.5) % Company owned life insurance 0.4 % (18.5) % Other, net (0.1) % (0.2) % Effective federal income tax rate 21.4 % 1.8 %

NOTES PAYABLE AND LONG-TERM D_2

NOTES PAYABLE AND LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Short-term Debt	Short-term debt and current portion of long-term debt consisted of the following as of September 30, 2020 and December 31, 2019: ($ in thousands) September 30, December 31, 2020 2019 Current portion of installment note payable due in November with variable interest rate equal to the WSJ prime rate plus 0.5%, with a 4.75% floor. Unsecured. $ 500 $ 500 $ 500 $ 500
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following as of September 30, 2020 and December 31, 2019: ($ in thousands) September 30, December 31, 2020 2019 Promissory note with variable interest rate equal to the WSJ prime rate plus 0.5%, with a 4.75% floor; maturity November 2023. Annual installment payments beginning November 2020. Unsecured. $ 1,500 $ 1,500 Subordinated debentures issued on December 15, 2005 with floating rate interest equal to 3-Month LIBOR plus 375 basis points; net of $143,000 in debt issuance cost ($150,000 in 2019); maturity December 15, 2035. Interest payable quarterly. Redeemable prior to maturity. Unsecured. 9,136 9,129 Subordinated debentures issued on June 21, 2007 with floating rate interest equal to 3-Month LIBOR plus 340 basis points; net of $55,000 in debt issuance cost ($58,000 in 2019); maturity June 15, 2037. Interest payable quarterly. Redeemable prior to maturity. Unsecured. 3,038 3,035 $ 13,674 $ 13,664

POLICY AND CLAIM RESERVES (Tabl

POLICY AND CLAIM RESERVES (Tables)	9 Months Ended
	Sep. 30, 2020
Insurance [Abstract]
Reconciliation of Policy and Claim Reserves	The following table is a reconciliation of beginning and ending property and casualty reserve balances for claims and claim adjustment expense: ($ in thousands) Nine months ended 2020 2019 Summary of claims and claim adjustment expense reserves Balance, beginning of year $ 7,199 $ 8,208 Less reinsurance recoverable on unpaid losses 249 1,384 Net balances at beginning of year 6,950 6,824 Net losses: Provision for claims and claim adjustment expenses for claims arising in current year 38,477 27,126 Estimated claims and claim adjustment expenses for claims arising in prior years (1,214) (1,014) Total increases 37,263 26,112 Claims and claim adjustment expense payments for claims arising in: Current year 31,637 22,694 Prior years 4,531 3,496 Total payments 36,168 26,190 Net balance at end of period 8,045 6,746 Plus reinsurance recoverable on unpaid losses 2,778 211 Claims and claim adjustment expense reserves at end of period $ 10,823 $ 6,957

REINSURANCE (Tables)

REINSURANCE (Tables)	9 Months Ended
	Sep. 30, 2020
Reinsurance Disclosures [Abstract]
Schedule of Reinsurance	Catastrophe reinsurance coverage is maintained in three layers as follows: Layer Reinsurers' Limits of Liability First Layer 100% of $13,500,000 in excess of $4,000,000 retention Second Layer 100% of $25,000,000 in excess of $17,500,000 Third Layer 100% of $30,000,000 in excess of $42,500,000 Catastrophe Aggregate 100% of $2,000,000 in excess of $2,000,000 aggregate annual deductible

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Schedule of Stock by Class	The table below provides information regarding the Company's preferred and common stock as of September 30, 2020 and December 31, 2019: September 30, 2020 Authorized Issued Treasury Outstanding Preferred Stock, $1 par value 500,000 — — — Class A Common Stock, $1 par value 2,000,000 — — — Common Stock, $1 par value 3,000,000 2,533,315 2,800 2,530,515 December 31, 2019 Authorized Issued Treasury Outstanding Preferred Stock, $1 par value 500,000 — — — Class A Common Stock, $1 par value 2,000,000 — — — Common Stock, $1 par value 3,000,000 2,531,552 436 2,531,116

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents changes in AOCI balances: ($ in thousands) Nine months ended 2020 2019 Unrealized Gains (Losses) on Cash Flow Hedges Balance at beginning of period $ (51) $ (185) Other comprehensive income (loss) for period: Other comprehensive gain (loss) before reclassifications (580) 92 Net current period other comprehensive income (loss) (580) 92 Balance at end of period $ (631) $ (93) Unrealized Gains (Losses) on Available-for-Sale Securities Balance at beginning of period $ 2,494 $ (1,385) Other comprehensive income (loss) for period: Other comprehensive income (loss) before reclassifications 2,072 4,214 Amounts reclassified from accumulated other comprehensive (income) loss (1,063) 7 Net current period other comprehensive income 1,009 4,221 Balance at end of period $ 3,503 $ 2,836 Total Accumulated Other Comprehensive Income at end of period $ 2,872 $ 2,743
Reclassification out of Accumulated Other Comprehensive Income	The following table presents the amounts reclassified out of AOCI for the nine months ended September 30, 2020: ($ in thousands) Details about Accumulated Other Comprehensive Income Components Amounts Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains and Losses on $ 1,345 Net investment gains 1,345 Total before tax (282) Tax (expense) or benefit $ 1,063 Net of Tax The following table presents the amounts reclassified out of AOCI for the nine months ended September 30, 2019: ($ in thousands) Details about Accumulated Other Comprehensive Income Components Amounts Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains and Losses on $ (9) Net investment losses (9) Total before tax 2 Tax (expense) or benefit $ (7) Net of Tax

SEGMENTS (Tables)

SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Schedule of Segment Reporting Information, by Segment	Total assets by industry segment at September 30, 2020 and December 31, 2019 are summarized below: ($ in thousands) Assets by industry segment Total P&C Insurance Operations Life Insurance Operations Non-Insurance Operations September 30, 2020 $ 155,556 $ 84,280 $ 65,566 $ 5,710 December 31, 2019 $ 153,934 $ 83,917 $ 65,605 $ 4,412 Net income (loss) by business segment for the three months ended September 30, 2020 and 2019 is summarized below: ($ in thousands) Three months ended September 30, 2020 P&C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter- company Eliminations Total REVENUE Net premiums earned $ 13,786 $ 1,503 $ — $ — $ 15,289 Net investment income 389 614 16 (135) 884 Investment gains 678 747 5 — 1,430 Other income 162 334 274 (608) 162 15,015 3,198 295 (743) 17,765 BENEFITS AND EXPENSES Policyholder benefits paid 11,851 1,646 — (194) 13,303 Amortization of deferred policy acquisition costs 681 155 — — 836 Commissions 1,431 62 — — 1,493 General and administrative expenses 2,027 554 280 (549) 2,312 Taxes, licenses and fees 564 40 — — 604 Interest expense — 10 190 — 200 16,554 2,467 470 (743) 18,748 Income (Loss) Before Income Taxes (1,539) 731 (175) — (983) INCOME TAX EXPENSE (BENEFIT) (347) 179 (37) — (205) Net Income (Loss) $ (1,192) $ 552 $ (138) $ — $ (778) ($ in thousands) Three months ended September 30, 2019 P&C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter-company Total REVENUE Net premiums earned $ 13,628 $ 1,581 $ — $ — $ 15,209 Net investment income 404 708 12 (135) 989 Investment gains (losses) (50) (68) 1 — (117) Other income 148 226 266 (492) 148 14,130 2,447 279 (627) 16,229 BENEFITS AND EXPENSES Policyholder benefits paid 8,564 1,303 — (117) 9,750 Amortization of deferred policy acquisition costs 681 124 — — 805 Commissions 1,919 87 — — 2,006 General and administrative expenses 2,070 531 135 (510) 2,226 Taxes, licenses and fees 528 76 — — 604 Interest expense — 13 280 — 293 13,762 2,134 415 (627) 15,684 Income (Loss) Before Income Taxes 368 313 (136) — 545 INCOME TAX EXPENSE (BENEFIT) 76 67 (28) — 115 Net Income (Loss) $ 292 $ 246 $ (108) $ — $ 430 Net income (loss) by business segment for the nine months ended September 30, 2020 and 2019 is summarized below: ($ in thousands) Nine months ended September 30, 2020 P&C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter- company Eliminations Total REVENUE Net premiums earned $ 40,996 $ 4,420 $ — $ — $ 45,416 Net investment income 1,169 2,003 42 (405) 2,809 Investment gains (losses) 693 296 (1) — 988 Other income 449 921 796 (1,716) 450 43,307 7,640 837 (2,121) 49,663 BENEFITS AND EXPENSES Policyholder benefits paid 37,264 3,908 — (550) 40,622 Amortization of deferred policy acquisition costs 2,043 706 — — 2,749 Commissions 5,411 204 — — 5,615 General and administrative expenses 5,913 1,396 461 (1,571) 6,199 Taxes, licenses and fees 1,740 179 — — 1,919 Interest expense — 29 631 — 660 52,371 6,422 1,092 (2,121) 57,764 Income (Loss) Before Income Taxes (9,064) 1,218 (255) — (8,101) INCOME TAX EXPENSE (BENEFIT) (1,937) 254 (54) — (1,737) Net Income (Loss) $ (7,127) $ 964 $ (201) $ — $ (6,364) ($ in thousands) Nine months ended September 30, 2019 P&C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter-company Total REVENUE Net premiums earned $ 40,356 $ 4,561 $ — $ — $ 44,917 Net investment income 1,255 2,022 36 (405) 2,908 Investment gains 1,991 109 20 — 2,120 Other income 430 689 785 (1,464) 440 44,032 7,381 841 (1,869) 50,385 BENEFITS AND EXPENSES Policyholder benefits paid 26,112 3,916 — (355) 29,673 Amortization of deferred policy acquisition costs 2,043 581 — — 2,624 Commissions 5,795 222 — — 6,017 General and administrative expenses 6,200 1,471 817 (1,514) 6,974 Taxes, licenses and fees 1,659 231 — — 1,890 Interest expense — 34 845 — 879 41,809 6,455 1,662 (1,869) 48,057 Income (Loss) Before Income Taxes 2,223 926 (821) — 2,328 INCOME TAX EXPENSE (BENEFIT) 33 186 (177) — 42 Net Income (Loss) $ 2,190 $ 740 $ (644) $ — $ 2,286
Schedule of Gross and Net Premiums Written	The following table presents the Company’s gross and net premiums written for the property and casualty segment and the life and accident and health segment for the three and nine months ended September 30, 2020 and 2019, respectively: ($ in thousands) Three months ended Nine months ended 2020 2019 2020 2019 Life, accident and health operations premiums written: Traditional life insurance $ 1,003 $ 1,062 $ 3,086 $ 3,151 Accident and health insurance 538 623 1,330 1,376 Gross life, accident and health 1,541 1,685 4,416 4,527 Reinsurance premium ceded (14) (11) (71) (64) Net life, accident and health premiums written $ 1,527 $ 1,674 $ 4,345 $ 4,463 Property and Casualty operations premiums written: Dwelling fire & extended coverage $ 10,316 $ 9,927 $ 31,710 $ 30,266 Homeowners (Including mobile homeowners) 5,205 5,235 15,933 16,098 Other liability 556 561 1,747 1,743 Gross property and casualty 16,077 15,723 49,390 48,107 Reinsurance premium ceded (1,999) (1,930) (5,547) (5,155) Net property and casualty written $ 14,078 $ 13,793 $ 43,843 $ 42,952 Consolidated gross premiums written $ 17,618 $ 17,408 $ 53,806 $ 52,634 Reinsurance premium ceded (2,013) (1,941) (5,618) (5,219) Consolidated net premiums written $ 15,605 $ 15,467 $ 48,188 $ 47,415
Schedule of Gross and Net Premiums Earned	The following table presents the Company’s gross and net premiums earned for the property and casualty segment and the life and accident and health segment for the three and nine months ended September 30, 2020 and 2019, respectively: ($ in thousands) Three months ended Nine months ended 2020 2019 2020 2019 Life, accident and health operations premiums earned: Traditional life insurance $ 978 $ 1,008 $ 3,165 $ 3,249 Accident and health insurance 539 584 1,326 1,376 Gross life, accident and health 1,517 1,592 4,491 4,625 Reinsurance premium ceded (14) (11) (71) (64) Net life, accident and health premiums earned $ 1,503 $ 1,581 $ 4,420 $ 4,561 Property and Casualty operations premiums earned: Dwelling fire & extended coverage $ 10,103 $ 9,644 $ 29,591 $ 28,401 Homeowners (Including mobile homeowners) 5,120 5,178 15,281 15,585 Other liability 562 560 1,671 1,654 Gross property and casualty 15,785 15,382 46,543 45,640 Reinsurance premium ceded (1,999) (1,754) (5,547) (5,284) Net property and casualty earned $ 13,786 $ 13,628 $ 40,996 $ 40,356 Consolidated gross premiums earned $ 17,302 $ 16,974 $ 51,034 $ 50,265 Reinsurance premium ceded (2,013) (1,765) (5,618) (5,348) Consolidated net premiums earned $ 15,289 $ 15,209 $ 45,416 $ 44,917

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Accounting Policies [Abstract]
Weighted average number of shares outstanding	2,530,736	2,529,352
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0
Cash, uninsured amount	$ 6,775,000
Allowance for credit loss on reinsurance recoverable	0		$ 0
Concentration Risk [Line Items]
Policy receivables and agents' balances, net	13,605,000		$ 12,028,000
Single Largest Agent Balance Due
Concentration Risk [Line Items]
Policy receivables and agents' balances, net	$ 561,000

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Thousands	1 Months Ended		9 Months Ended
	Jun. 30, 2007	Dec. 31, 2005	Sep. 30, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Investments			$ 104,979	$ 118,969
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Investments			$ 387
Variable Interest Entity, Not Primary Beneficiary | Maximum
Variable Interest Entity [Line Items]
Limited partnership, percent owned			1.00%
Trust Preferred Security Offering, 2005
Variable Interest Entity [Line Items]
Payments to acquire trust preferred securities		$ 9,000
Subordinated debt		9,279
Proceeds from issuance of trust preferred securities		9,005
Equity investment		$ 279
Trust Preferred Security Offering, 2007
Variable Interest Entity [Line Items]
Payments to acquire trust preferred securities	$ 3,000
Proceeds from issuance of trust preferred securities	2,995
Equity investment	93
Trust Preferred Security Offering, 2007 | Unsecured Debt
Variable Interest Entity [Line Items]
Subordinated debt	$ 3,093

INVESTMENTS (Narrative) (Detail

INVESTMENTS (Narrative) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Gain (Loss) on Securities [Line Items]
Held-to-maturity securities, unrealized losses	$ 0	$ 0
Other-than-temporary impairments, available-for-sale securities	0	0
Single largest loss position	182,000	60,000
Second largest loss position	126,000	23,000
Third largest loss position	$ 92,000	$ 20,000
Maximum
Gain (Loss) on Securities [Line Items]
Percent of investment portfolio below investment grade	6.00%

INVESTMENTS (Available-for-Sale

INVESTMENTS (Available-for-Sale Securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Fixed maturities, Amortized Cost	$ 82,532	$ 97,102
Fixed maturities, Gross Unrealized Gains	5,178	3,494
Fixed maturities, Gross Unrealized Losses	743	336
Fixed maturities, Fair Value	86,967	100,260
Equity securities, Amortized Cost	2,127	2,127
Equity securities, Gross Unrealized Gains	2,924	3,176
Equity securities, Gross Unrealized Losses	21	0
Equity securities, Fair Value	5,030	5,303
Amortized Cost	84,659	99,229
Gross Unrealized Gains	8,102	6,670
Gross Unrealized Losses	764	336
Fair Value	91,997	105,563
U.S. Government corporations and agencies
Debt Securities, Available-for-sale [Line Items]
Fixed maturities, Amortized Cost	4,527	4,131
Fixed maturities, Gross Unrealized Gains	343	150
Fixed maturities, Gross Unrealized Losses	0	0
Fixed maturities, Fair Value	4,870	4,281
Agency mortgage backed securities
Debt Securities, Available-for-sale [Line Items]
Fixed maturities, Amortized Cost	23,769	32,283
Fixed maturities, Gross Unrealized Gains	1,033	861
Fixed maturities, Gross Unrealized Losses	88	157
Fixed maturities, Fair Value	24,714	32,987
Asset backed securities
Debt Securities, Available-for-sale [Line Items]
Fixed maturities, Amortized Cost	9,456	10,307
Fixed maturities, Gross Unrealized Gains	123	71
Fixed maturities, Gross Unrealized Losses	349	104
Fixed maturities, Fair Value	9,230	10,274
Private label mortgage backed securities
Debt Securities, Available-for-sale [Line Items]
Fixed maturities, Amortized Cost	1,429	6,815
Fixed maturities, Gross Unrealized Gains	47	441
Fixed maturities, Gross Unrealized Losses	11	4
Fixed maturities, Fair Value	1,465	7,252
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Fixed maturities, Amortized Cost	37,441	36,074
Fixed maturities, Gross Unrealized Gains	3,351	1,816
Fixed maturities, Gross Unrealized Losses	265	70
Fixed maturities, Fair Value	40,527	37,820
States, municipalities and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Fixed maturities, Amortized Cost	5,069	6,669
Fixed maturities, Gross Unrealized Gains	163	109
Fixed maturities, Gross Unrealized Losses	30	1
Fixed maturities, Fair Value	5,202	6,777
Foreign governments
Debt Securities, Available-for-sale [Line Items]
Fixed maturities, Amortized Cost	841	823
Fixed maturities, Gross Unrealized Gains	118	46
Fixed maturities, Gross Unrealized Losses	0	0
Fixed maturities, Fair Value	$ 959	$ 869

INVESTMENTS (Held-to-Maturity S

INVESTMENTS (Held-to-Maturity Securities) (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 1,019,000	$ 1,290,000
Held-to-maturity securities, unrealized gains	88,000	55,000
Held-to-maturity securities, unrealized losses	0	0
Fair Value	1,107,000	1,345,000
Agency mortgage backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	1,019,000	1,290,000
Held-to-maturity securities, unrealized gains	88,000	55,000
Held-to-maturity securities, unrealized losses	0	0
Fair Value	$ 1,107,000	$ 1,345,000

INVESTMENTS (Amortized Cost and

INVESTMENTS (Amortized Cost and Aggregate Fair Value of Debt Securities, by Contractual Maturity) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Investments [Abstract]
Available-for-sale Securities, Due in one year or less, Amortized Cost	$ 260
Available-for-sale Securities, Due in one year or less, Fair Value	261
Available-for-sale Securities, Due after one year through five years, Amortized Cost	18,449
Available-for-sale Securities, Due after one year through five years, Fair Value	19,374
Available-for-sale Securities, Due after five years through ten years, Amortized Cost	26,124
Available-for-sale Securities, Due after five years through ten years, Fair Value	27,471
Available-for-sale Securities, Due after ten years, Amortized Cost	37,699
Available-for-sale Securities, Due after ten years, Fair Value	39,861
Fixed maturities, Amortized Cost	82,532	$ 97,102
Available-for-sale Securities, Fair Value	86,967
Held-to-maturity Securities, Due after one year through five years, Amortized Cost	20
Held-to-maturity Securities, Due after one year through five years, Fair Value	21
Held-to-maturity Securities, Due after five years through ten years, Amortized Cost	3
Held-to-maturity Securities, Due after five years through ten years, Fair Value	4
Held-to-maturity Securities, Due after ten years, Amortized Cost	996
Held-to-maturity Securities, Due after ten years, Fair Value	1,082
Held-to-maturity Securities, Amortized Cost	1,019	1,290
Debt Securities, Held-to-maturity, Fair Value	$ 1,107	$ 1,345

INVESTMENTS (Schedule of Contin

INVESTMENTS (Schedule of Continuous Losses) (Details) $ in Thousands	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 14,630	$ 17,839
Less than 12 Months, Gross Unrealized Losses	541	196
12 Months or Longer, Fair Value	2,265	4,814
12 Months or Longer, Gross Unrealized Losses	223	140
Total Fair Value	16,895	22,653
Total Gross Unrealized Losses	$ 764	$ 336
Total Securities in a Loss Position	30	43
Agency mortgage backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 4,896	$ 5,663
Less than 12 Months, Gross Unrealized Losses	80	104
12 Months or Longer, Fair Value	4	1,751
12 Months or Longer, Gross Unrealized Losses	8	53
Total Fair Value	4,900	7,414
Total Gross Unrealized Losses	$ 88	$ 157
Total Securities in a Loss Position	10	18
Asset backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 3,529	$ 4,241
Less than 12 Months, Gross Unrealized Losses	143	33
12 Months or Longer, Fair Value	1,770	1,579
12 Months or Longer, Gross Unrealized Losses	206	71
Total Fair Value	5,299	5,820
Total Gross Unrealized Losses	$ 349	$ 104
Total Securities in a Loss Position	7	9
Private label mortgage backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 924	$ 1,060
Less than 12 Months, Gross Unrealized Losses	11	4
12 Months or Longer, Fair Value	0	0
12 Months or Longer, Gross Unrealized Losses	0	0
Total Fair Value	924	1,060
Total Gross Unrealized Losses	$ 11	$ 4
Total Securities in a Loss Position	1	1
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 4,366	$ 6,363
Less than 12 Months, Gross Unrealized Losses	256	54
12 Months or Longer, Fair Value	491	1,484
12 Months or Longer, Gross Unrealized Losses	9	16
Total Fair Value	4,857	7,847
Total Gross Unrealized Losses	$ 265	$ 70
Total Securities in a Loss Position	9	14
States, municipalities and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 778	$ 512
Less than 12 Months, Gross Unrealized Losses	30	1
12 Months or Longer, Fair Value	0	0
12 Months or Longer, Gross Unrealized Losses	0	0
Total Fair Value	778	512
Total Gross Unrealized Losses	$ 30	$ 1
Total Securities in a Loss Position	1	1
Equity securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 137
Less than 12 Months, Gross Unrealized Losses	21
12 Months or Longer, Fair Value	0
12 Months or Longer, Gross Unrealized Losses	0
Total Fair Value	137
Total Gross Unrealized Losses	$ 21
Total Securities in a Loss Position	2

INVESTMENTS (Major Categories o

INVESTMENTS (Major Categories of Investment Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Gross investment income	$ 919	$ 1,024	$ 2,918	$ 3,025
Less: Investment expenses	35	35	109	117
Net investment income	884	989	2,809	2,908
Fixed maturities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Gross investment income	824	960	2,696	2,831
Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Gross investment income	30	19	102	66
Mortgage loans on real estate
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Gross investment income	1	2	5	6
Investment real estate
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Gross investment income	0	0	1	3
Policy loans
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Gross investment income	36	37	108	106
Other
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Gross investment income	$ 28	$ 6	$ 6	$ 13

INVESTMENTS (Major Categories_2

INVESTMENTS (Major Categories of Investment Gains and Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Gain (Loss) on Securities [Line Items]
Investment gains (losses)	$ 1,430	$ (117)	$ 988	$ 2,120
Gains (losses) on trading securities	5	1	(1)	9
Realized gains (losses) on fixed maturities
Gain (Loss) on Securities [Line Items]
Investment gains (losses)	1,091	(24)	1,107	(9)
Change in fair value of equity securities
Gain (Loss) on Securities [Line Items]
Investment gains (losses)	223	(80)	(272)	72
Change in surrender value of company owned life insurance
Gain (Loss) on Securities [Line Items]
Investment gains (losses)	125	(14)	165	256
Realized gain on company owned life insurance
Gain (Loss) on Securities [Line Items]
Investment gains (losses)	0	0	0	1,792
Other losses principally real estate
Gain (Loss) on Securities [Line Items]
Investment gains (losses)	$ (14)	$ 0	$ (11)	$ 0

INVESTMENTS (Schedule of Unreal

INVESTMENTS (Schedule of Unrealized Appreciation) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Investments [Abstract]
Fixed maturities			$ 1,277	$ 5,343
Deferred income tax			(268)	(1,122)
Change in net unrealized gains on available-for-sale securities	$ (486)	$ 735	$ 1,009	$ 4,221

FAIR VALUE OF FINANCIAL ASSET_3

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Narrative) (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair value measurements of assets	$ 1,438,000
Fair value measurements of liabilities	(799,000)
Nonrecurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	0	$ 0
Liabilities, fair value	$ 0	$ 0

FAIR VALUE OF FINANCIAL ASSET_4

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Assets/Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	$ 86,967	$ 100,260
Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	151	149
Total Financial Assets	92,148	105,712
Total Financial Liabilities	(799)	(65)
Recurring Basis | Financial Liabilities | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Liabilities	(799)	(65)
Recurring Basis | U.S. Government corporations and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	4,870	4,281
Recurring Basis | Agency mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	24,714	32,987
Recurring Basis | Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	9,230	10,274
Recurring Basis | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	40,527	37,820
Recurring Basis | Private label mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	1,465	7,252
Recurring Basis | States, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	5,202	6,777
Recurring Basis | Foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	959	869
Recurring Basis | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	5,030	5,303
Recurring Basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	151	149
Total Financial Assets	26,193	32,278
Total Financial Liabilities	0	0
Recurring Basis | Level 1 | Financial Liabilities | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Liabilities	0	0
Recurring Basis | Level 1 | U.S. Government corporations and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	4,870	4,281
Recurring Basis | Level 1 | Agency mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	13,258	19,330
Recurring Basis | Level 1 | Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	2,440	2,601
Recurring Basis | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 1 | Private label mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	923	1,060
Recurring Basis | Level 1 | States, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 1 | Foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	959	869
Recurring Basis | Level 1 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	3,592	3,988
Recurring Basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Total Financial Assets	64,517	72,119
Total Financial Liabilities	0	0
Recurring Basis | Level 2 | Financial Liabilities | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Liabilities	0	0
Recurring Basis | Level 2 | U.S. Government corporations and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 2 | Agency mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	11,456	13,657
Recurring Basis | Level 2 | Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	6,790	7,673
Recurring Basis | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	40,527	37,820
Recurring Basis | Level 2 | Private label mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	542	6,192
Recurring Basis | Level 2 | States, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	5,202	6,777
Recurring Basis | Level 2 | Foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 2 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Total Financial Assets	1,438	1,315
Total Financial Liabilities	(799)	(65)
Recurring Basis | Level 3 | Financial Liabilities | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Liabilities	(799)	(65)
Recurring Basis | Level 3 | U.S. Government corporations and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 3 | Agency mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 3 | Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 3 | Private label mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 3 | States, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 3 | Foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 3 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	$ 1,438	$ 1,315

FAIR VALUE OF FINANCIAL ASSET_5

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Level 3 Reconciliation) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Equity Securities
Ending balance	$ 1,438
Interest Rate Swap
Ending balance	(799)
Recurring Basis | Interest rate swap
Interest Rate Swap
Beginning balance	(65)	$ (234)
Included in earnings	0	0
Included in other comprehensive income	(734)	169
Purchases:	0	0
Sales:	0	0
Issuances:	0	0
Settlements:	0	0
Transfers in/(out) of Level 3	0	0
Ending balance	(799)	(65)
The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held	0	0
Recurring Basis | Total Fixed Maturities
Equity Securities
Beginning balance:	1,315	1,125
Included in earnings	123	645
Included in other comprehensive income	0	0
Purchases:	0	0
Sales:	0	(455)
Issuances:	0	0
Settlements:	0	0
Transfers in/(out) of Level 3	0	0
Ending balance	1,438	1,315
The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held	$ 0	$ 0

FAIR VALUE OF FINANCIAL ASSET_6

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Fair Value of Assets and Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Other policyholder funds
Liabilities and Related Instruments [Abstract]
Carrying Value, Liabilities	$ 1,341	$ 1,350
Estimated Fair Value, Liabilities	1,341	1,350
Short-term notes payable and current portion of long-term debt
Liabilities and Related Instruments [Abstract]
Carrying Value, Liabilities	500	500
Estimated Fair Value, Liabilities	500	500
Long-term debt
Liabilities and Related Instruments [Abstract]
Carrying Value, Liabilities	13,674	13,664
Estimated Fair Value, Liabilities	13,674	13,664
Held-to-maturity securities
Assets and Related Instruments [Abstract]
Carrying Value, Assets	1,019	1,290
Estimated Fair Value, Assets	1,107	1,345
Mortgage loans on real estate
Assets and Related Instruments [Abstract]
Carrying Value, Assets	145	147
Estimated Fair Value, Assets	145	147
Policy loans
Assets and Related Instruments [Abstract]
Carrying Value, Assets	1,857	1,895
Estimated Fair Value, Assets	1,857	1,895
Company owned life insurance
Assets and Related Instruments [Abstract]
Carrying Value, Assets	4,820	4,655
Estimated Fair Value, Assets	4,820	4,655
Other invested assets
Assets and Related Instruments [Abstract]
Carrying Value, Assets	2,053	2,280
Estimated Fair Value, Assets	$ 2,053	$ 2,280

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,456	$ 5,425
Less accumulated depreciation	3,879	3,795
Property and equipment, net	1,577	1,630
Depreciation expense	85	124
Building and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,472	3,472
Electronic data processing equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,501	1,470
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 483	$ 483

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Deferred income tax asset	$ 214
Deferred income tax liability		$ 96

INCOME TAXES (Deferred Tax Asse

INCOME TAXES (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
General expenses	$ 1,320	$ 1,269
Unearned premiums	1,423	1,288
Claims liabilities	662	645
NOL carryforward	131	0
Impairment on real estate owned	109	119
Unrealized loss on interest rate swaps	167	14
Deferred tax assets	3,812	3,335
Unrealized losses on trading securities	0	(1)
Depreciation	(91)	(93)
Deferred policy acquisition costs	(1,619)	(1,610)
Pre-1984 policyholder surplus account	(347)	(397)
Unrealized gains on securities available-for-sale	(931)	(663)
Unrealized gains on equity securities	(610)	(667)
Deferred tax liabilities	(3,598)	(3,431)
Net deferred tax asset (liability)	$ 214	$ (96)

INCOME TAXES (Schedule of Incom

INCOME TAXES (Schedule of Income Tax Effects of Changes in Temporary Differences) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Deferred policy acquisition costs			$ 9	$ 17
Other-than-temporary impairments			10	0
Trading securities			(1)	2
Unearned premiums			(135)	(114)
General expenses			(51)	(85)
Depreciation			(2)	0
Claims liabilities			(17)	(30)
Impact of repeal of special provision on pre-1984 policyholder surplus			(50)	(50)
NOL carryforward			(131)	0
Unrealized gains (losses) on equity securities			(57)	15
Deferred income tax benefit	$ (226)	$ (75)	$ (425)	$ (245)

INCOME TAXES (Schedule of Effec

INCOME TAXES (Schedule of Effective Income Tax Rate Reconciliation) (Details)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Federal income tax rate applied to pre-tax income (loss)	21.00%	21.00%
Dividends received deduction and tax-exempt interest	0.10%	(0.50%)
Company owned life insurance	0.40%	(18.50%)
Other, net	(0.10%)	(0.20%)
Effective federal income tax rate	21.40%	1.80%

NOTES PAYABLE AND LONG-TERM D_3

NOTES PAYABLE AND LONG-TERM DEBT (Short-Term Debt) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Short-term Debt [Line Items]
Short-term notes payable and current portion of long-term debt	$ 500	$ 500
Notes Payable to Banks | Unsecured Debt
Short-term Debt [Line Items]
Interest rate description	WSJ
Basis spread on variable rate	0.50%
Floor	4.75%
Short-term notes payable and current portion of long-term debt	$ 500	$ 500

NOTES PAYABLE AND LONG-TERM D_4

NOTES PAYABLE AND LONG-TERM DEBT (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Jun. 21, 2007	Dec. 15, 2005	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt			$ 13,674	$ 13,664
Unsecured Debt | Promissory Note
Debt Instrument [Line Items]
Interest rate description			WSJ
Basis spread on variable rate			0.50%
Floor			4.75%
Long-term debt			$ 1,500	1,500
Unsecured Debt | Trust Preferred Security Offering, 2005
Debt Instrument [Line Items]
Debt issuance costs, net			143	150
Long-term debt			9,136	9,129
Unsecured Debt | Trust Preferred Security Offering, 2005 | Three-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		3.75%
Unsecured Debt | Trust Preferred Security Offering, 2007
Debt Instrument [Line Items]
Debt issuance costs, net			55	58
Long-term debt			$ 3,038	$ 3,035
Unsecured Debt | Trust Preferred Security Offering, 2007 | Three-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	3.40%

NOTES PAYABLE AND LONG-TERM D_5

NOTES PAYABLE AND LONG-TERM DEBT (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Feb. 26, 2020	May 26, 2010
Debt Instrument [Line Items]
Cash flow hedge, derivative instrument liabilities at fair value	$ 799,000		$ 799,000		$ 65,000
Unrealized gain (loss) on interest rate swap	39,000	$ 47,000	(580,000)	$ 92,000	134,000
Securities on deposit	1,197,000		1,197,000		294,000
Collateral Pledged [Member]
Debt Instrument [Line Items]
Available-for-sale securities pledged as collateral	1,197,000		1,197,000		$ 294,000
Interest rate swap
Debt Instrument [Line Items]
Derivative, notional amount						$ 3,000,000	$ 9,000,000
Derivative, fixed interest rate						4.93%	8.49%
Cash flow hedge, liability at fair value	200,000		200,000
Interest rate swap
Debt Instrument [Line Items]
Derivative, notional amount						$ 9,000,000
Derivative, fixed interest rate						5.28%
Cash flow hedge, liability at fair value	$ 599,000		$ 599,000

POLICY AND CLAIM RESERVES (Prop

POLICY AND CLAIM RESERVES (Property and Casualty Reserve) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Less reinsurance recoverable on unpaid losses	$ 276
Net losses:
Estimated claims and claim adjustment expenses for claims arising in prior years	(1,214)	$ (1,014)
Claims and claim adjustment expense payments for claims arising in:
Plus reinsurance recoverable on unpaid losses	9,363
Consolidated Property and Casualty Insurance Entity
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Balance, beginning of year	7,199	8,208
Less reinsurance recoverable on unpaid losses	249	1,384
Net balances at beginning of year	6,950	6,824
Net losses:
Provision for claims and claim adjustment expenses for claims arising in current year	38,477	27,126
Estimated claims and claim adjustment expenses for claims arising in prior years	(1,214)	(1,014)
Total increases	37,263	26,112
Claims and claim adjustment expense payments for claims arising in:
Current year	31,637	22,694
Prior years	4,531	3,496
Total payments	36,168	26,190
Net balances at end of period	8,045	6,746
Plus reinsurance recoverable on unpaid losses	2,778	211
Claims and claim adjustment expense reserves at end of period	$ 10,823	$ 6,957

POLICY AND CLAIM RESERVES (Narr

POLICY AND CLAIM RESERVES (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Insurance [Abstract]
Estimated claims and claim adjustment expenses for claims arising in prior years	$ 1,214	$ 1,014
Reserve for unpaid claims	441		$ 417
Policy and contract claims	$ 1,135		$ 1,053

REINSURANCE (Details)

REINSURANCE (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Reinsurance Maintained by Layers [Line Items]
Life insurance policy reinsurance limit	$ 50,000
Reinsurance recoverable	9,363,000	$ 276,000
Single Reinsurer
Reinsurance Maintained by Layers [Line Items]
Reinsurance recoverable	1,347,000	$ 10,000
First Layer
Reinsurance Maintained by Layers [Line Items]
Catastrophe reinsurance retention	$ 4,000,000
Percent of reinsured losses covered by layer	100.00%
Covered losses	$ 13,500,000
Second Layer
Reinsurance Maintained by Layers [Line Items]
Percent of reinsured losses covered by layer	100.00%
Covered losses	$ 25,000,000
Reinsurer's limit of liability	$ 17,500,000
Third Layer
Reinsurance Maintained by Layers [Line Items]
Percent of reinsured losses covered by layer	100.00%
Covered losses	$ 30,000,000
Reinsurer's limit of liability	42,500,000
Catastrophe Aggregate
Reinsurance Maintained by Layers [Line Items]
Catastrophe reinsurance retention	$ 2,000,000
Percent of reinsured losses covered by layer	100.00%
Covered losses	$ 2,000,000
First Catastrophe Event
Reinsurance Maintained by Layers [Line Items]
Catastrophe reinsurance retention	4,000,000
Second Catastrophe Event
Reinsurance Maintained by Layers [Line Items]
Catastrophe reinsurance retention	$ 2,000,000

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details)	9 Months Ended
	Sep. 30, 2020USD ($)hours	Sep. 30, 2019USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Minimum hours of service completed in year of contribution | hours	1,000
Matching contribution	$ 140,000	$ 136,000
Employer matching contribution, percent	5.00%
Cash contributions to ESOP	$ 100,000	0
ESOP debt structure	0
Non-Qualified Deferred Compensation Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Deferred compensation arrangement	$ 124,000	$ 412,000
Executive Officers
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer matching contribution, percent	15.00%

SHAREHOLDERS' EQUITY (Narrative

SHAREHOLDERS' EQUITY (Narrative) (Details) - USD ($)	May 22, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Jun. 01, 2020
Stockholders' Equity Note [Abstract]
Net income (loss)		$ (778,000)	$ 430,000	$ (6,364,000)	$ 2,286,000	$ 4,067,000
Dividends paid		(151,000)	(126,000)	(455,000)	(379,000)	(531,000)
Other comprehensive income, net of tax		(447,000)	$ 782,000	429,000	4,313,000	4,013,000
Common stock issued				25,000	$ 53,000	53,000
Treasury stock acquired		$ 13,000		$ 34,000		$ 7,000
Shares of common stock repurchased and placed in treasury (in shares)				2,364		436
Maximum
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Stock repurchase program, authorized amount							$ 500,000
Directors
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Shares issued under incentive plan (in shares)	1,763

SHAREHOLDERS' EQUITY (Preferred

SHAREHOLDERS' EQUITY (Preferred and Common Stock) (Details) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized (in shares)	500,000	500,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value	$ 1	$ 1
Common stock, shares authorized (in shares)	3,000,000	3,000,000
Common stock, shares issued (in shares)	2,533,315	2,531,552
Treasury (in shares)	2,800	436
Common stock, shares outstanding (in shares)	2,530,515	2,531,116
Class A Common Stock
Class of Stock [Line Items]
Common stock, par value	$ 1	$ 1
Common stock, shares authorized (in shares)	2,000,000	2,000,000
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Changes in AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			$ 2,443
Other comprehensive income (loss), net of tax	$ (447)	$ 782	429	$ 4,313	$ 4,013
Ending balance	2,872	2,743	2,872	2,743	2,443
Unrealized Gains (Losses) on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(51)	(185)	(185)
Other comprehensive gain (loss) before reclassifications			(580)	92
Other comprehensive income (loss), net of tax			(580)	92
Ending balance	(631)	(93)	(631)	(93)	(51)
Unrealized Gains (Losses) on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			2,494	(1,385)	(1,385)
Other comprehensive gain (loss) before reclassifications			2,072	4,214
Amounts reclassified from accumulated other comprehensive (income) loss			(1,063)	7
Other comprehensive income (loss), net of tax			1,009	4,221
Ending balance	$ 3,503	$ 2,836	$ 3,503	$ 2,836	$ 2,494

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Amounts reclassified out of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Investment gains (losses)	$ 1,430	$ (117)	$ 988	$ 2,120
Tax (expense) or benefit	205	(115)	1,737	(42)
Net Income (Loss)	$ (778)	$ 430	(6,364)	2,286	$ 4,067
Amounts Reclassified from Accumulated Other Comprehensive Income | Unrealized Gains (Losses) on Available-for-Sale Securities
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Investment gains (losses)			1,345	(9)
Total before tax			1,345	(9)
Tax (expense) or benefit			(282)	2
Net Income (Loss)			$ 1,063	$ (7)

SEGMENTS (Narrative) (Details)

SEGMENTS (Narrative) (Details)	9 Months Ended
	Sep. 30, 2020Segments
Segment Reporting [Abstract]
Number of operating segments	1

SEGMENTS (Schedule of Segment R

SEGMENTS (Schedule of Segment Reporting Information, by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Assets	$ 155,556		$ 155,556		$ 153,934
Net premiums earned	15,289	$ 15,209	45,416	$ 44,917
Net investment income	884	989	2,809	2,908
Investment gains (losses)	1,430	(117)	988	2,120
Other income	162	148	450	440
Total Revenues	17,765	16,229	49,663	50,385
Policyholder benefits paid	13,303	9,750	40,622	29,673
Amortization of deferred policy acquisition costs	836	805	2,749	2,624
Commissions	1,493	2,006	5,615	6,017
General and administrative expenses	2,312	2,226	6,199	6,974
Taxes, licenses and fees	604	604	1,919	1,890
Interest expense	200	293	660	879
Total Benefits, Losses and Expenses	18,748	15,684	57,764	48,057
Income (Loss) Before Income Taxes	(983)	545	(8,101)	2,328
Total income tax expense	(205)	115	(1,737)	42
Net Income (Loss)	(778)	430	(6,364)	2,286	4,067
Inter- company Eliminations
Segment Reporting Information [Line Items]
Net premiums earned	0	0	0	0
Net investment income	(135)	(135)	(405)	(405)
Investment gains (losses)	0	0	0	0
Other income	(608)	(492)	(1,716)	(1,464)
Total Revenues	(743)	(627)	(2,121)	(1,869)
Policyholder benefits paid	(194)	(117)	(550)	(355)
Amortization of deferred policy acquisition costs	0	0	0	0
Commissions	0	0	0	0
General and administrative expenses	(549)	(510)	(1,571)	(1,514)
Taxes, licenses and fees	0	0	0	0
Interest expense	0	0	0	0
Total Benefits, Losses and Expenses	(743)	(627)	(2,121)	(1,869)
Income (Loss) Before Income Taxes	0	0	0	0
Total income tax expense	0	0	0	0
Net Income (Loss)	0	0	0	0
P&C Insurance Operations
Segment Reporting Information [Line Items]
Assets	84,280		84,280		83,917
Net premiums earned	13,786	13,628	40,996	40,356
Net investment income	389	404	1,169	1,255
Investment gains (losses)	678	(50)	693	1,991
Other income	162	148	449	430
Total Revenues	15,015	14,130	43,307	44,032
Policyholder benefits paid	11,851	8,564	37,264	26,112
Amortization of deferred policy acquisition costs	681	681	2,043	2,043
Commissions	1,431	1,919	5,411	5,795
General and administrative expenses	2,027	2,070	5,913	6,200
Taxes, licenses and fees	564	528	1,740	1,659
Interest expense	0	0	0	0
Total Benefits, Losses and Expenses	16,554	13,762	52,371	41,809
Income (Loss) Before Income Taxes	(1,539)	368	(9,064)	2,223
Total income tax expense	(347)	76	(1,937)	33
Net Income (Loss)	(1,192)	292	(7,127)	2,190
Life Insurance Operations
Segment Reporting Information [Line Items]
Assets	65,566		65,566		65,605
Net premiums earned	1,503	1,581	4,420	4,561
Net investment income	614	708	2,003	2,022
Investment gains (losses)	747	(68)	296	109
Other income	334	226	921	689
Total Revenues	3,198	2,447	7,640	7,381
Policyholder benefits paid	1,646	1,303	3,908	3,916
Amortization of deferred policy acquisition costs	155	124	706	581
Commissions	62	87	204	222
General and administrative expenses	554	531	1,396	1,471
Taxes, licenses and fees	40	76	179	231
Interest expense	10	13	29	34
Total Benefits, Losses and Expenses	2,467	2,134	6,422	6,455
Income (Loss) Before Income Taxes	731	313	1,218	926
Total income tax expense	179	67	254	186
Net Income (Loss)	552	246	964	740
Non-Insurance Operations
Segment Reporting Information [Line Items]
Assets	5,710		5,710		$ 4,412
Net premiums earned	0	0	0	0
Net investment income	16	12	42	36
Investment gains (losses)	5	1	(1)	20
Other income	274	266	796	785
Total Revenues	295	279	837	841
Policyholder benefits paid	0	0	0	0
Amortization of deferred policy acquisition costs	0	0	0	0
Commissions	0	0	0	0
General and administrative expenses	280	135	461	817
Taxes, licenses and fees	0	0	0	0
Interest expense	190	280	631	845
Total Benefits, Losses and Expenses	470	415	1,092	1,662
Income (Loss) Before Income Taxes	(175)	(136)	(255)	(821)
Total income tax expense	(37)	(28)	(54)	(177)
Net Income (Loss)	$ (138)	$ (108)	$ (201)	$ (644)

SEGMENTS (Schedule of Gross and

SEGMENTS (Schedule of Gross and Net Premiums Written) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Gross premiums written	$ 17,618	$ 17,408	$ 53,806	$ 52,634
Reinsurance premium ceded	(2,013)	(1,941)	(5,618)	(5,219)
Net premiums written	15,605	15,467	48,188	47,415
P&C Insurance Operations
Segment Reporting Information [Line Items]
Gross premiums written	16,077	15,723	49,390	48,107
Reinsurance premium ceded	(1,999)	(1,930)	(5,547)	(5,155)
Net premiums written	14,078	13,793	43,843	42,952
P&C Insurance Operations | Dwelling fire & extended coverage
Segment Reporting Information [Line Items]
Gross premiums written	10,316	9,927	31,710	30,266
P&C Insurance Operations | Homeowners (Including mobile homeowners)
Segment Reporting Information [Line Items]
Gross premiums written	5,205	5,235	15,933	16,098
P&C Insurance Operations | Other liability
Segment Reporting Information [Line Items]
Gross premiums written	556	561	1,747	1,743
Life Insurance Operations
Segment Reporting Information [Line Items]
Gross premiums written	1,541	1,685	4,416	4,527
Reinsurance premium ceded	(14)	(11)	(71)	(64)
Net premiums written	1,527	1,674	4,345	4,463
Life Insurance Operations | Traditional life insurance
Segment Reporting Information [Line Items]
Gross premiums written	1,003	1,062	3,086	3,151
Life Insurance Operations | Accident and health insurance
Segment Reporting Information [Line Items]
Gross premiums written	$ 538	$ 623	$ 1,330	$ 1,376

SEGMENTS (Schedule of Gross a_2

SEGMENTS (Schedule of Gross and Net Premiums Earned) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Gross premiums earned	$ 17,302	$ 16,974	$ 51,034	$ 50,265
Reinsurance premium ceded	(2,013)	(1,765)	(5,618)	(5,348)
Net premiums earned	15,289	15,209	45,416	44,917
Life Insurance Operations
Segment Reporting Information [Line Items]
Gross premiums earned	1,517	1,592	4,491	4,625
Reinsurance premium ceded	(14)	(11)	(71)	(64)
Net premiums earned	1,503	1,581	4,420	4,561
Life Insurance Operations | Traditional life insurance
Segment Reporting Information [Line Items]
Gross premiums earned	978	1,008	3,165	3,249
Life Insurance Operations | Accident and health insurance
Segment Reporting Information [Line Items]
Gross premiums earned	539	584	1,326	1,376
P&C Insurance Operations
Segment Reporting Information [Line Items]
Gross premiums earned	15,785	15,382	46,543	45,640
Reinsurance premium ceded	(1,999)	(1,754)	(5,547)	(5,284)
Net premiums earned	13,786	13,628	40,996	40,356
P&C Insurance Operations | Dwelling fire & extended coverage
Segment Reporting Information [Line Items]
Gross premiums earned	10,103	9,644	29,591	28,401
P&C Insurance Operations | Homeowners (Including mobile homeowners)
Segment Reporting Information [Line Items]
Gross premiums earned	5,120	5,178	15,281	15,585
P&C Insurance Operations | Other liability
Segment Reporting Information [Line Items]
Gross premiums earned	$ 562	$ 560	$ 1,671	$ 1,654

CONTINGENCIES (Details)

CONTINGENCIES (Details)	Sep. 30, 2020claim
Hurricane | Texas
Loss Contingencies [Line Items]
Pending claims, number	1

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 593,000	$ 774,000
Income taxes (received) paid	230,000	(373,000)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in equity	25,000	53,000	$ 53,000
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in equity	1,000	5,000
Common Stock | Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued	1,000
Additional Paid-in Capital
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in equity	$ 24,000	$ 48,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event - Catastrophe $ in Thousands	Oct. 31, 2020USD ($)
Minimum
Subsequent Event [Line Items]
Reinsurance losses for unpaid claims and claims adjustments	$ 6,500
Maximum
Subsequent Event [Line Items]
Reinsurance losses for unpaid claims and claims adjustments	$ 7,000